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WTW unveils “market-first” facility for cargo and war-on-land risks in Ukraine

Global advisory, broking and solutions firm WTW has partnered with Ukrainian insurer, VUSO, to provide a London market-backed facility covering cargo and war-on-land risks.

As per WTW, this market-first facility offers “much-needed certainty” to Ukrainian and foreign enterprises moving goods and products overland within the borders of Ukraine.

The London Market facility is led by Lloyd’s syndicate Markel and is operational immediately, accessible via VUSO or WTW Ukraine.

Sam Warnes, Director of Marine Cargo, WTW, commented, “This facility complements our other cargo war offerings such as our Black Sea Grain facility and $300m facility offering cover in the Red Sea and other high-risk war areas.”

Vyacheslav Andriyko, Head of WTW Ukraine added, “We are delighted to offer the first insurance solution for war risks within the borders of Ukraine to provide peace of mind to domestic companies, along with certainty for international companies who are offering their support and assistance in Ukraine’s rebuilding efforts.”

Andrii Artiukhov, CEO at VUSO, said, “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.”

Pamela Thompson-Hall, Head of International, WTW, noted, “At WTW, our purpose is clear, to transform tomorrow by pioneering innovative solutions to address our clients’ risks.

“Brought to life by the great teamwork of our dedicated colleagues in Ukraine, the global insights from our international colleagues, and strong partnership with carriers, which enabled us to develop a market-leading initiative and secure much-needed capacity to facilitate crucial trade and transportation operations within Ukraine. It is a source of pride for us to support our clients through their current crisis.”

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