Cabinet of Ministers has improved business insurance against war risks

The Cabinet of Ministers of Ukraine has approved changes to the program of business property insurance against war risks, aimed at simplifying the procedure and expanding coverage.

This was reported by the Ministry of Economy of Ukraine, noting that the new rules provide for compensation not only for real estate, but also for production equipment - machines, devices, tools and other devices used in the main activity of the enterprise.

The mandatory requirement to provide a property valuation report at the application stage has been canceled. Now the entrepreneur can independently indicate the amount of probable damage in the application, which significantly reduces bureaucratic procedures.

The procedure for calculating the compensation limit has been changed: UAH 10 million for property or UAH 1 million in insurance premium compensation is applied to each enterprise separately, and not to all related persons, as was the case before.

It was also clarified that compensation is provided not only for direct missile or artillery strikes, but also for shock waves, falling UAVs and debris, as well as for indirect consequences of the use of weapons.

State support continues to operate in two formats: direct compensation for losses for enterprises in regions of increased risk - Dnipropetrovsk, Donetsk, Zaporizhia, Mykolaiv, Odessa, Poltava, Sumy, Kharkiv, Kherson, Chernihiv regions (excluding occupied territories) and partial compensation for insurance premiums for businesses in the rest of Ukraine.

Minister of Economy Oleksiy Sobolev emphasized that the new rules allow reducing the bureaucratic burden: "Businesses no longer need to spend time and money on property valuation just to submit an application. We have also included production equipment in the coverage and clearly stipulated the possibility of compensation in case of damage from drones and debris."