Ukraine Crisis – Terrorism and Political Violence Insurance
A terrorist attack, strike, riot, civil commotion and other types of politically motivated unrest can directly and indirectly affect businesses and human lives. Modern day terrorism is multifaceted and constantly evolving in its nature. An insurance policy cannot save lives, but it [...]
Ukraine Crisis – impact on insurance
The war in Ukraine, which has been raging since February 24th, and the response of the Western world in the form of economic sanctions against Russia have so far had a drastic impact on the insurance industry. Insurance brokers who deal with [...]
Renomia strenghtens its position in Central Europe
RENOMIA has taken a majority shareholder position in the experienced Polish insurance broker Alfa Brokers. Alfa Brokers was founded in 1991 by the Gerne family and operates as a corporate insurance and employee benefits broker. With more than 30 experienced colleagues, the [...]
Ukraine Crisis – Business travel insurance in the event of war
The main purpose of business travel insurance, just like private travel insurance, is to cover emergency medical care and return transport home as well as necessary assistance provided by the insurer, like medical evacuation in an emergency. In this context, it must [...]
Ukraine crisis – Cargo insurance and political risks
Trading companies and manufacturers of goods have their deliveries insured in a global transport insurance policy based on turnover. The scope of coverage is usually "all risks" according to the Institute Cargo Clauses or similar wordings. The current situation in Ukraine is [...]
Ukraine crisis – Current status of sanctions against Russia
This is an overview of the current status of EU measures, with more focus on sanctions relevant to the financial sector/insurance (mediation) services. The summary includes the sanctions imposed in 2014 against Russia and Crimea, which are still in effect, and the [...]
Ukraine crisis – Health insurance for Expats
A major German health insurer states that insurance cover for persons in Russia and Ukraine continues to exist without any limitation, as long as these persons do not actively participate in the war (Passive war cover for non-combatants). The insurer underlines, however, [...]
Ukraine crisis – Cover aspects in aviation insurance
Like other insurance lines, aviation insurance also excludes damage caused in connection with war and terrorism. The specific definition in the insurance policies says that there is no cover for claims caused by war, invasion, acts of foreign enemies, hostilities (whether war [...]