Inherent Risks launches membership product for Ukraine

The Ukraine Response duty of care product is ‘backed by ‘A’ rated capacity from Lloyd’s of London and company market insurers’, and membership is available to all nationalities, subject to individual sanctions checks.

The company has had a continued presence in Ukraine since February 2022, where it has been providing ‘risk advisory, intelligence, medical evacuation and crisis response services to insurance companies, non-governmental organisations, global media agencies, war crimes investigators, high-net-worth individuals, visiting dignitaries, and international assistance companies’.

However, the firm said that most organisations ‘have an annual, global insurance policy in place, but people who want to work in Ukraine are often told that their policy is not valid in a war zone’. Alternatively, other insurance options for on-the-market insurance are for short trips, and are ‘expensive, laborious, and require a broker to acquire’. The majority of them are also ‘self-rescue policies, and some even include a war exclusion’.

Consequently, the new membership product is intended to provide a more affordable, fit-for-purpose solution to address the high level of demand for such a product.

There has been a high level of demand for emergency medical and evacuation cover for travel to Ukraine since Russia’s invasion early last year.