The Russian invasion of Ukraine has resulted in devastating loss of life, a humanitarian crisis not seen since World War II, and potentially hundreds of billions of dollars in property damage and loss. In an article for Bloomberg Law, Partner Sandra Smith Thayer examines how political risk insurance may cover some of these losses.
“Companies with political risk insurance policies covering investments or assets in the Ukraine or Russia should consult their policy or contact their insurance broker for guidance to understand the extent of coverage and if any exclusions apply,” Thayer advised. “There may be a short window of time to give notice of a claim or loss, and detailed information surrounding the proof of loss may also be required.”
Read the full article here.