The rates in Ukraine are currently higher than previously experienced in Iraq and Afghanistan…Principally, it’s a more active war zone rather than an insurgency situation,” said Alexis Fehler, accident and health underwriter at Lloyd’s of London-backed insurer OneAdvent
LONDON:
Insurance for humanitarian workers, journalists, engineers and others heading to Ukraine is now more expensive and harder to organise than during the Iraq war.
While initially nervous about providing cover in the immediate aftermath of Russia’s February invasion of Ukraine, which Moscow refers to a “special military operation”, a few more insurers have become willing to do so in recent months, industry sources say, although it is costly.
The rates in Ukraine are currently higher than previously experienced in Iraq and Afghanistan…Principally, it’s a more active war zone rather than an insurgency situation,” said Alexis Fehler, accident and health underwriter at Lloyd’s of London-backed insurer OneAdvent.
“Instability caused by Ukrainian gains and the subsequent retaliatory actions of the Russian forces will have a further dramatic impact on costs,” he added.
Reuters