“INGO” offers to secure property for medium and small businesses. Entrepreneurs can now receive compensation for damage if their insured objects are damaged as a result of air attacks or sabotage actions of the enemy on Ukrainian territory located no closer than 100 km from the collision.
INGO insurance company is expanding protection against war risks for Ukrainian business. During 2022-2023, the company is introducing new insurance options for various types of insurance and categories of clients.
According to the new conditions, INGO offers property insurance for medium and small businesses. Entrepreneurs can now receive compensation for losses if their insured properties are damaged as a result of air attacks or sabotage actions of the enemy on Ukrainian territory located no closer than 100 km from the contact line. Today you can insure objects for up to 20 million UAH.
To receive an insurance payment, enterprises will need to submit a standard list of documents and a written statement to law enforcement agencies regarding a criminal offense under Article 438 of the Criminal Code of Ukraine “Violation of the laws and customs of war” and a corresponding copy of the extract from the Unified Register of Registered Registers under the same article.
The company’s management notes that in international practice, the risk of war in ordinary property contracts is considered force majeure and insurance payments are not provided for. However, INGO provides protection against events that are highly likely to occur, given the current situation in Ukraine.
Director of the underwriting department of INGO Insurance Company Andrey Semchenko noted: “The world has never seen a war with such intensity of shelling and scale of destruction in the 21st century. Therefore, reinsurers have not yet shown an expressed desire to insure property against military risks from Ukraine, although negotiations are still ongoing “.
Despite everything, INGO is ready today to offer favorable insurance conditions for enterprises, using its own competencies and statistics. Previously, the company announced protection against war risks in other types of insurance, such as cargo insurance (both sea and land), CASCO, medical insurance, accident insurance, insurance of crops in the fields, housing of individuals, etc. and plans to further expand this list.
“We understand the social significance of our function – we help people and companies get out of difficult situations that Russian aggression adds to us,” concluded Andrei Semchenko.