In the conditions of the ongoing war and economic challenges arising from the conflict, Ukraine is actively looking for ways to protect its enterprises and investors. At the end of September, the National Bank of Ukraine and the Ministry of Economy presented a draft law providing for the creation of the State Agency for Military Risk Insurance.
The agency will determine the general policy of risk assessment and acceptance for insurers participating in the system, as well as develop standardized insurance products, determine centralized pricing approaches and maintain a single centralized database in the military risk insurance system.
The system will cover the risks of physical damage caused by war, in particular, it is assumed that property pledged as collateral and objects of residential construction will be subject to mandatory insurance.
Currently, consultations are ongoing regarding a possible clarification of the list of mandatory insurance objects. In the next stages, it is planned to expand the coverage for a larger range of objects.
