Advisory and broking services provider Willis Towers Watson (WTW) has partnered with Ukrainian insurer VUSO to launch a facility covering cargo and war-on-land risks.
This London market backed facility led by Lloyd’s syndicate Markel, which provides prearranged war insurance capacity, aims to bring certainty to businesses who are moving goods and products overland within the borders of Ukraine.
It covers both Ukrainian and foreign enterprises that operate amidst the ongoing conflict.
As it is reported by the broker, the facility is now operational and can be accessed via VUSO or WTW Ukraine.
WTW’s partnership with VUSO is a development that directly addresses the complex challenges faced by local insurer partners.
Sam Warnes, director marine cargo, said: “This facility complements our other cargo war offerings such as our Black Sea Grain facility and $300 million facility offering cover in the Red Sea and other high risk war areas.”
Andrii Artiukhov, chief executive at VUSO, claims that 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 program will allow us to expand the range of offers for our corporate clients to protect their cargo from war risks,” he said.
Source: Willis Towers Watson (WTW) original press release can be found here. This news is for information purposes only and do not constitute or replace professional advice. Shipping Telegraph provides no warranty, guarantee for the accuracy or completeness of the information given by third parties. Pls see our disclaimer here.
