War risk is not covered by damage insurance. In Russia, the situation has hardened.
The Russian invasion of Ukraine makes the life of companies present in these two countries particularly complex. This is especially true in insurance. Generally, large groups have international insurance programs. Their local subsidiaries are covered by Western insurers established locally or directly by local players. However, in all cases, war risks are excluded from non-life insurance covering companies. This poses a problem today for those present in Ukraine and whose claims related to the conflict (in a factory or other building) will not be compensated by insurers.
However, certain cautious groups may have subscribed before the beginning of the conflict to a specific guarantee, called “political violence and terrorism”, covering the risk of war. “It is difficult to know how many did, even if the risks to Ukraine had been identifiedadvances Denis Bicheron, director…