For the first time, the international insurance broker WTW begins to cover the war risks of cargo on land in Ukraine

For the first time in Ukraine, freight transportation will be insured against military risks. This service was launched by the international insurance broker WTW and VUSO Insurance Company

For the first time since the beginning of a full-scale war, WTW, a global insurance broker listed on the Nasdaq stock exchange, has announced the launch of war risk coverage for cargo on land in Ukraine in partnership with the Ukrainian insurance company VUSO. This was reported by Morningstar. This information was confirmed to NV Business by Andriy Artyukhov, CEO of VUSO Insurance Company.

According to Artyukhov, the new type of insurance can be used by both Ukrainian and foreign companies that transport goods and products by land within Ukraine. The insurance pool is headed by the Lloyd’s Markel syndicate.

WTW’s partnership with VUSO solves the difficult problem of the impossibility of reinsuring cargo against war risks.

Pamela Thompson-Hall, head of WTW’s international department, is confident that this initiative will provide the necessary capacity to facilitate important trade and transportation operations within Ukraine.

Tags: rail transportation, insurance