AON - Aon Launches $350M War Risk Insurance Scheme For Ukrainian Businesses As Conflict With Russia Rages On | Benzinga
Aon (NYSE:AON) has partnered with a U.S. development agency to introduce a $350 million insurance scheme to protect Ukrainian businesses from war risks.
What Happened: The initiative aims to support Ukraine’s wartime economy and facilitate future reconstruction efforts, Financial Times reported on Wednesday. War risk insurance covers losses due to conflict, and after Russia’s invasion, foreign insurers had largely withdrawn from offering such coverage in Ukraine.
Eric Andersen, president of Aon, described the facility as a “groundbreaking” measure to encourage local insurers to provide war risk policies. This move is seen as crucial for attracting foreign investment needed for Ukraine’s reconstruction, estimated to cost $1 trillion.
The scheme was unveiled at a Ukraine recovery ...