WTW, a leading global advisory, broking, and solutions company, has partnered with Ukrainian insurer VUSO to introduce a London market-backed facility covering cargo and war-on-land risks.
The collaboration aims to offer much-needed certainty to Ukrainian and foreign enterprises involved in transporting goods and products overland within Ukraine.
This initiative directly addresses the complex challenges of providing war insurance capacity, providing peace of mind to businesses amidst uncertain geopolitical landscapes.
Led by Lloyd’s syndicate Markel, the London Market facility offers an exclusive prearranged war insurance capacity, operational immediately. Accessible through VUSO or WTW Ukraine, this initiative signifies a year-long effort to develop a market-leading solution for addressing war risks within Ukraine’s borders.
Sam Warnes, Director Marine Cargo commented, “This facility complements our other cargo war offerings such as our Black Sea Grain facility and $300 million facility offering cover in the Red Sea and other high risk war areas.”
Vyacheslav Andriyko, Head of WTW Ukraine said, “We are delighted to offer the first insurance solution for war risks within the borders of Ukraine to provide peace of mind to domestic companies, along with certainty for international companies who are offering their support and assistance in Ukraine’s rebuilding efforts.”
Andrii Artiukhov, CEO at VUSO said, “VUSO offers a wide range of insurance products designed specifically to address the unique needs of businesses in providing protection against unforeseen situations, including war risks. This program will allow us to expand the range of offers for our corporate clients to protect their cargo from war risks.”
Pamela Thompson-Hall, Head of International, WTW added, “At WTW, our purpose is clear, to transform tomorrows by pioneering innovative solutions to address our clients’ risks. Brought to life by the great teamwork of our dedicated colleagues in Ukraine, the global insights from our international colleagues, and strong partnership with carriers, which enabled us to develop a market leading initiative and secure much needed capacity to facilitate crucial trade and transportation operations within Ukraine. It is a source of pride for us to support our clients through their current crisis.”
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