Expansion of War Risk Insurance Coverage
Kyiv city and Kyiv region have now been designated as high-risk areas, enabling businesses there to access broader war risk insurance protections. The government has updated the list of insurable assets, increasing the types of property eligible for compensation if damaged or destroyed during military actions. Additionally, the maximum compensation limit for affected enterprises has been raised.
The revised regulations now include the following assets under coverage:
- Fuel supplies
- Vehicles used for fuel transportation and storage
- Agricultural machinery
- Trucks and trailers
The annual maximum insurance payout per company has been increased from 3 million to 5 million hryvnias, offering more substantial financial relief for businesses impacted by the conflict.
Government Support Measures for Businesses
Beyond expanding insurance, the government is enhancing support for major projects in fuel supply, logistics, trade, and manufacturing sectors. Companies can now obtain preferential loans aimed at rebuilding fuel and storage facilities, modernizing production, and replenishing working capital for wholesale and retail operations. The state will also cover 5.5% per annum of the interest above the bank’s base rate on these loans.
Prior to this change, only the Dnipropetrovsk, Donetsk, Zaporizhzhia, Mykolaiv, Odesa, Poltava, Sumy, Kharkiv, Kherson, and Chernihiv regions were classified as high-risk zones. Including Kyiv and its region in this category does not introduce new restrictions or impact daily life regulations.
“While next year’s budget includes a dedicated fund for war risk insurance, businesses need immediate support, which is why we are expanding the current program now.” – Serhiy Koretskyi
These updates aim to stabilize business operations during ongoing hostilities and promote economic recovery. Recognizing Kyiv and its surrounding area as high-risk underscores the government’s commitment to safeguarding enterprises in the capital, potentially encouraging investment and rebuilding efforts in the region.
In light of these significant updates to war risk insurance, it is also essential to consider how the government's initiatives are directly enhancing support for local entrepreneurs. For instance, a recent announcement highlights the increased compensation available for Kyiv businesses, which can now receive up to 5 million UAH annually. This move not only provides immediate financial relief but also reflects the government's commitment to fostering a resilient business environment in the capital. To learn more about the specific measures being introduced for entrepreneurs in Kyiv, see our detailed coverage regarding the enhanced insurance options.