Koretsky: Govt expands war risk insurance program for business; Kyiv and region included in high-risk areas list
The Cabinet of Ministers of Ukraine has expanded the existing war risk insurance program for businesses and simplified the process for obtaining compensation, Prime Minister of Ukraine Serhiy Koretsky has announced.
Ukrainian Prime Minister Serhiy Koretsky announced an expansion of the government's war risk insurance program for businesses. The program has been simplified to expedite compensation for losses suffered by companies due to Russian attacks. Kyiv, the capital, and the surrounding region have been designated as high-risk areas. The expanded list of eligible assets for compensation includes fuel, fuel transport and storage vehicles, agricultural machinery, and trucks and trailers.
The maximum insurance premium compensation per year per enterprise has been raised from UAH 3 million to UAH 5 million. The government is also extending this mechanism to leased property and simplifying insurance contract requirements. Additionally, state support for major projects in fuel, logistics, trade, and manufacturing industries has been increased.
Concessional loans are now available for fuel infrastructure restoration, manufacturing facility modernization, and replenishing working capital for businesses. The state will subsidize 5.5% of the annual interest rate charged by banks, with a maximum limit of UAH 1 billion for groups of related companies.
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