Instant Insights / Insurance implications from Russian invasion of Ukraine

From cyber claims to the cutting of business ties, the reverberations from the Russian invasion of Ukraine are felt across global P&C insurance markets.


Thank you for sharing!

Your article was successfully shared with the contacts you provided.
Residents and police inspect a fire damaged building following a blast at around 4am during Russian artillery strikes in Kyiv, Ukraine, on Friday, Feb. 25, 2022. (Credit: Erin Trieb/Bloomberg) Residents and police inspect a fire-damaged building following Russian artillery strikes in Kyiv, Ukraine, on Friday, Feb. 25, 2022. (Credit: Erin Trieb/Bloomberg)

The Russian attack on Ukraine has potential implications for the global insurance industry, and in some cases, for the U.S. insurance industry. In seeking just one word to explain these implications, that word would be “expensive.”

Already we have seen the negative financial impact worldwide from the stock market volatility, oil and commodity prices, merchant cargo and shipping costs, aviation interruptions, disruptions in the banking and investment sectors and loss of Russian imports/exports. Any country, state, territory or entity that does business with Russia will be affected financially, and in most aspects insurance coverage will not be a viable resource due to standard policy exclusions for war and military action, nuclear hazard, governmental action, and acts or decisions.


Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2023 ALM Global, LLC. All Rights Reserved.