The mechanism of property insurance against war risks is being improved in accordance with the needs of business
The first applications from businesses under the property insurance program against war risks are being received, while the insurance mechanism is being improved in accordance with the needs of business. The UkrStrakhuvannya website learned about this from the message of the Prime Minister of Ukraine, Yulia Svyrydenko.
“The government is in constant dialogue with business, communities and regions, so we are improving this mechanism for additional requests from entrepreneurs that have been received during this time,” commented Yulia Svyrydenko.
According to the Prime Minister, improving the mechanism of business property insurance against war risks consists in expanding coverage, establishing fair limits, clearly defining war risks and generally simplifying the application procedure.
In particular, insurance coverage currently extends not only to real estate, but also to production equipment, machine tools, devices, tools, and machinery. The compensation limit is up to UAH 10 million. for property or up to 1 million UAH. insurance premium compensation is now applied to each legal entity separately, and not to all related persons.
A property valuation report is no longer required to submit an application. The entrepreneur independently indicates the amount of the estimated losses.