Aviation News, Headlines & Alerts
 
Day: <span>December 16, 2022</span>

Ukraine, Russia plane and ship insurance at risk from Jan 1 -sources

Insurers may refuse to cover planes flying to Ukraine or ships sailing through the Black Sea as reinsurers – who insure the insurers – propose excluding the region from policies from next month, four industry sources said. Reinsurers typically renew their 12-month contracts with insurance clients on Jan. 1, meaning they have the first opportunity to scale back exposure since the war in Ukraine started, after being hit this year by losses related to the conflict and from Hurricane Ian in Florida. A proposed contract clause being circulated by reinsurers excludes war-related claims for planes or ships in Ukraine, Belarus and Russia, the four sources told Reuters.

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