MMC plans risk data platform for Ukraine to tap insurance market
- October 29, 2024
- Posted by: Web workers
- Category: Finance
Marsh & McLennan Cos. Inc. said Thursday it will design a risk data platform to allow insurers to assess and write war risk coverage in Ukraine as part of a broader initiative to work with the Ukrainian government to help it access the global insurance market.
The development follows Wednesday’s announcement by British Prime Minister Rishi Sunak concerning a new framework for war risk insurance.
The data platform will better position insurers to offer commercial insurance coverage in Ukraine, Marsh McLennan said in a statement.
Services will be provided on a pro-bono basis, the New York-based brokerage said.
It follows Marsh McLennan’s earlier proposal to Ukrainian and Group of Seven (G7) governments to create a war risk insurance pool.
Aon PLC, Lloyd’s of London and Vienna Insurance Group also announced Wednesday they would join forces to provide coverage for Ukraine to support its reconstruction.
