Good morning.
Rebuilding the private sector after a war starts with insurance, including in Ukraine. Former Commerce Secretary Penny Pritzker, now the U.S. Special Representative for Ukraine's Economic Recovery, said “a robust insurance market was essential to attracting investment in the country.” But few insurers will put a price on protecting against volatile risks if they can’t protect their own downside, too. Just look at what’s happening with property insurance in areas impacted by climate change.
That makes Aon’s first-of-its-kind insurance program in Ukraine, announced Wednesday at the Ukraine Recovery Conference in Berlin, worth a look for leaders who may never step foot in Kyiv. The global insurance broker worked with the U.S. International Development Finance Corporation (DFC) and Ukraine officials on a $50 million reinsurance program to help insurers issue war risk policies to businesses operating in Ukraine and create an additional $300 million in war risk insurance for the country’s health care and agriculture sectors.
