The international insurance market is ready to work in Ukraine
The first projects related to the mechanism for reducing the cost of marine transportation insurance in the territorial waters of Ukraine are already being implemented together with the insurance market, which contributes to the safety of marine transportation and increasing the volume of Ukrainian exports.
This information was announced during a video conference of the First Deputy Prime Minister of Ukraine – Minister of Economy Yulia Svyridenko with Crispin Ellison, senior partner of the world’s largest risk management consulting company Marsh McLennan.
“Ship insurance is one of the most complex projects in which dozens of interested participants are involved. This clearly demonstrates that the international insurance market is ready to work in Ukraine. Our further joint steps will be aimed at expanding the implementation of similar insurance instruments for other types of exports,” Svyridenko emphasized , the words of which are listed on the website of the ministry.
As reported, the new insurance mechanism for sea transportation in the territorial waters of Ukraine will make it possible to reduce the cost of grain insurance by approximately 2.5 percentage points from the cost of the insurance tariff, which will allow grain traders to save approximately UAH 100-140 per ton of cargo, and in general, agricultural producers will will additionally bring up to 4 billion hryvnias. These funds will be directed to farmers both by increasing the purchase price and for additional purchases.
“Implementation of the marine transportation insurance mechanism will ensure the safety of shipping, contribute to the stability of maritime transportation, and also ensure the stable export of Ukrainian products through the ports of Ukraine,” the Ministry of Economy notes.