Ukraine in talks with Marsh on war risk insurance for air transport

(Reuters) – Ukraine is discussing military risk insurance for air transportation with insurance broker Marsh and consulting firm Oliver Wyman, Ukraine’s National Security and Defense Council said on Friday.

Air traffic over Ukraine has been suspended since Russia’s full-scale invasion in February 2022. But Kyiv wants to reopen Boryspil International Airport just outside the capital as soon as possible once conditions permit, which it sees as a victory for Ukraine’s economy.

A statement on the defense council’s website said it had held talks about “further steps of cooperation on military risk insurance in air transportation and business travel to Ukraine, as well as large-scale investment insurance in the reconstruction.”

It did not provide additional details. Reuters contacted Marsh for comment.

Marsh with other insurers and Ukrainian state banks already runs a war risk ship insurance program aimed at cutting costs of claims for damage to ships transporting grain through the Black Sea corridor, set by Kyiv to circumvent a de facto Russian blockade in the sea.

In December, Boryspil airport saw the departure of a Boeing 777-300 on a technical flight, a sign Ukraine’s infrastructure remains in working condition and safety can be granted despite constant Russian air attacks.

(Reporting by Yuliia Dysa, Editing by Rosalba O’Brien)