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.

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Aircraft insurers brace for a deluge of Russia-related claims

Lessors of planes stuck in Russia since the onset of sanctions have warned insurers of possible claims.

By Katherine Chiglinsky, Siddharth Philip and Max Reyes | March 21, 2022 at 12:30 AM

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Aeroflot and other aircraft at Sheremetyevo airport in Moscow (2016). (Credit: Bloomberg)

(Bloomberg) — Aircraft-leasing firms working to retrieve planes from Russia are set to collide with an aviation-insurance industry bracing for an unprecedented barrage of claims.

Lessors of planes stuck in Russia since the onset of sanctions have warned insurers of possible claims to come if the jets aren’t returned. Insurers, meanwhile, are canceling some policies, including for war risk, and may challenge claims on coverage still in force, industry participants say.

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