WTW teams with local insurer to roll out war cover for on-land cargo in Ukraine

Broker WTW has partnered with Ukrainian insurer VUSO to cover cargo and war-on-land risks in the country in a “market first” that has taken a year to develop. The London market-backed facility, led by Lloyd’s syndicate Markel, will provide pre-arranged war insurance capacity for Ukrainian and international businesses moving goods and products overland within the country’s borders.

WTW said the new product offering joins its existing Black Sea Grain initiative and $300m facility for cargo in the Red Sea, both insuring marine cargo to ensure the flow of trade to and from Ukraine.

The on-land cover is already live and available through VUSO or WTW Ukraine.

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, added: “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 programme will allow us to expand the range of offers for our corporate clients to protect their cargo from war risks.”