Military risks can be insured for 100 million.

Starting from November 2024, Ukrainians will be able to take out insurance against military risks for an amount of up to 100 million UAH (2.5 million USD). This was reported by the insurance company ARX.

The insurance will cover damages caused by missile strikes, attacks by various types of drones and their fragments, concerning specific insured objects.

'This coverage will be valid throughout Ukraine, except for regions close to the front line and the border with the Russian Federation,' ARX noted.

ARX was able to provide insurance protection up to 100 million UAH thanks to an agreement with the U.S. International Development Finance Corporation (DFC) during the active phase of the war in Ukraine.

According to the agreement, the DFC will act as a reinsurer for ARX, which issues insurance policies in Ukraine and covers the risks of physical damages from the war. Moreover, the implementation of this mechanism by the DFC will positively impact the number of private companies involved in recovery projects. The DFC is also considering the possibility of providing additional reinsurance to other Ukrainian insurance companies.

The DFC is a U.S. government institution that collaborates with the private sector to finance the most challenging issues in developing countries. The corporation invests in various sectors, including energy, healthcare, infrastructure, agriculture, small enterprises, and financial services.