The National Association of Insurers of Ukraine is constantly working in the areas jointly determined by the Association’s members. The ongoing large-scale war undoubtedly has an impact on the activities of insurers, but it does not cancel the plans of the companies and the Association.
Like every other company in Ukraine, the NAIU insurers are also affected by the war and operate in a war-time environment. However, the association’s members are a community that is able to study and define the place of insurance in war reality, not only adapting to but also influencing the course of events.
Today, the association’s insurers have taken part in an exclusive workshop “Demand for War Risk Insurance: A Joint Dialogue”.
The event, which was jointly organised by UNIQA Ukraine and the NAIU, brought together key players in the insurance market, uniting insurers and insurance brokers. The participants gathered to discuss and identify the unique needs of the market, future demand and potential for war risk insurance in Ukraine. The level of expertise of the event was determined by the keynote speaker Jake Hernandez. Jake (CEO of AnotherDay, a subsidiary of Gallagher) is an internationally recognised consultant in political and security risk and crisis management, with extensive experience in a variety of complex jurisdictions, including Iraq, Yemen, Pakistan, Syria and Ukraine.
Among other things, the professionals discussed the nature of losses observed since the beginning of the war and the types of war risk insurance that may be most in demand, as well as the specifics of possible insurance coverage and the amount of insurance amounts. Particular attention was paid to the role of the international reinsurance market in supporting Ukrainian business and ways to access reinsurance coverage from local insurers and brokers.
We are confident that the results of the joint work of the NAIU Office and its Members in the field of war risk insurance will become a tangible element of Ukraine’s reconstruction, and insurers will become reliable partners of Ukrainians and the state on the path to recovery.
The NAIU does not stop and continues to implement best practices in the insurance market and to promote the development of a solvent, sustainable, competitive insurance market in Ukraine with proper protection of the rights of insurance consumers.
