Insurance rates jump for Ukraine war-exposed business – report

Reuters quoted Garrett Hanrahan, global head of aviation at Marsh, who said aviation war insurance was no longer available for Ukraine, Russia and Belarus as a result of the conflict. For the rest of the world, he said, aviation war cover has doubled, as insurers try to recoup some of their losses.

Hanrahan added: “The hull war market is beginning to reflate itself through rate rises.”

Meanwhile, a recent report from S&P Global identified that the conflict which Russia calls a “special military operation”, could lead to insurance losses of $16 billion-$35 billion in so-called “specialty” insurance classes such as

Read More>>