The Cabinet of Ministers is introducing a mechanism for compensating for war risks for business, which provides for coverage of losses from missile and drone attacks, air defense fragments and other consequences of hostilities. This was announced by Prime Minister of Ukraine Yulia Svyrydenko.
Enterprises from front-line areas will be able to receive up to 10 million hryvnias in compensation for damaged or destroyed property. After recording the losses and submitting the necessary documents to the “Export Credit Agency” the state will compensate for part of the losses within this limit.
For businesses throughout Ukraine, the state will compensate for part of the cost of insurance premiums under war risk insurance contracts using a model similar to the “5-7-9%” program, which will allow reducing the tariff for entrepreneurs to 1%.
“For example, if an enterprise in the Rivne region insures property for 50 million hryvnias at a rate of 3%, the state will cover two-thirds of the cost of this insurance, but not more than 1 million hryvnias per year”, — explained Svyrydenko.
You can apply online on the website of PrJSC “Export Credit Agency” or via the Diya.Business platform. Compensation will be provided for damage from missile and drone strikes, air defense fragments, fires, explosions, and shock waves. After the compensation is paid, the right to claim damages within this amount passes to the state.
“Business has been demanding this tool since the first months of a full-scale war: without war risk insurance, it is impossible to plan work and recovery. In the last year alone, attacks on business facilities have increased more than threefold – financial guarantees are critically needed”, the Prime Minister emphasized.
This mechanism is part of the policy of supporting Ukrainian manufacturers “Made in Ukraine” and a step towards stability and protection that will allow Ukrainian business to work and develop even in wartime.
