The insurance company “INGO” will compensate Ukrainian businesses for losses from the consequences of military operations
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INGO insurance company expands protection against war risks for Ukrainian business. During 2022-2023, the company will introduce new insurance options for various types of insurance and customer categories.
According to the new conditions, “INGO” offers property insurance for medium and small businesses. Entrepreneurs can now receive compensation for losses if their insured objects are damaged by air attacks or sabotage by the enemy on Ukrainian territory located no closer than 100 km from the contact line.
Already today, you can insure objects worth up to UAH 20 million.
In order to receive an insurance payment, companies will need to submit a standard list of documents and a written statement to law enforcement agencies regarding a criminal offense under Article 438 of the Criminal Code of Ukraine “Violation of the Laws and Customs of War” and a corresponding copy of an extract from the EDPR under the same article.
The company’s management notes that in international practice, the risk of war in ordinary property contracts is considered force majeure and insurance payments are not provided for.
However, “INGO” provides protection against events, the probability of which is high, given the current situation in Ukraine.
Andrii Semchenko, director of the underwriting department of SC “INGO”, emphasized: “The world has not yet seen a war with such intensity of shelling and scale of destruction in the 21st century.
Therefore, reinsurers have not yet expressed a desire to insure property against war risks from Ukraine, although negotiations are still ongoing.”
Despite everything, “INGO” is ready today to offer favorable insurance conditions for enterprises, using its own competences and statistics.
Previously, the company announced protection against war risks in other types of insurance such as cargo transportation insurance (both sea and land), CASCO, medical insurance, accident insurance, insurance of crops in the fields, housing of individuals, etc. and plans to further expand this list .
“We understand the social significance of our function – we help people and companies to get out of difficult situations that Russia’s aggression adds to us,” concluded Andriy Semchenko.
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