In October the USAID Financial Sector Reform Activity conducted a survey of Ukrainian businesses about political and war-related risk insurance (PRI/WRI).
The key findings include:
- Only 14% used PRI/WRI before the war
- The demand for PRI/WRI increased dramatically (4-5 times) after the onset of the war
- 82% are ready to insure before the hostilities end; 67% want to continue being insured even after military actions are over
- 69% would like to invest and/or to raise investment capital even before the end of active hostilities
- The acceptable insurance tariff ceiling is 1-3% for the majority (76%)
More details are available in the report https://shorturl.at/yK259.
Experts of the USAID Financial Sector Reform Activity are using the survey results to provide practical recommendations for the Ukrainian insurance industry and facilitate the development of a PRI/WRI product for the market.