Ukraine Expands War Risk Insurance Program for Businesses, Raises Compensation Cap
The Cabinet of Ministers has broadened an existing insurance scheme covering war-related damage to business property and eased the process for claiming compensation, according to Ukrinform.
Ukraine's Cabinet of Ministers has expanded an existing war risk insurance program for businesses and raised the cap on compensation available to companies whose property is damaged or destroyed as a result of the war, Ukrinform reported.
According to the report, the government has also simplified the procedure that businesses must follow to obtain compensation under the program.
Ukrinform did not provide further details on the specific new compensation cap figures, the scope of the program's expansion, or when the changes take effect.
The war risk insurance program is intended to provide financial protection to businesses operating in Ukraine amid the ongoing conflict, helping to offset losses from damage or destruction of property caused by the war.
This report is based on information published by Ukrinform; further details on the program's implementation were not immediately available.
Sources
- Ukraine expands war risk insurance program for businesses, raises compensation cap — Ukrinform (Ukraine)
EGazette summarizes reporting from multiple sources; follow the links for the originals.
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