Valid property insurance does not guarantee that the indemnity will be paid in due course if your own employees do not know the basic steps they should take in case of an insured event. That is the conclusion we came to in the course of handling multiple real-life claims settlements.

Starting from October winter crops insurance in Ukraine becomes a burning issue for a few principal players in the agricultural market. We say “a few” as the high cost of this insurance product makes it unaffordable for the majority of companies in this field let alone small farms. The insurance rates are in turn driven by significant risks associated with the agricultural activities and by overall unprofitability of agriculture.

In Ukraine tax rate for VAT is broken down into three categories: 20 % default rate, 0 % special rate (e.g. for export operations) and 7 % preferred rate for some kinds of operations (e.g. pharmaceuticals trade), all specified under the current Tax Code of Ukraine

Nowadays requirements set by national and international banks in Ukraine to insure pledged property serve as the significant factor driving the insurance market in our country. On the one hand, banks are interested in such kind of insurance as they eliminate the risk of loosing pledged assets. On the other hand, they benefit from the interest paid by the insurance companies. Unfortunately the interest rate has been almost doubled recently which in turn triggered the price of loans. Therefore lenders often concern themselves with the question – is it possible to stand your ground in the relationship with banks?

Liability insurance for legal professionals is relatively new product though it has caught on both in Ukraine and worldwide. Moreover, it is considered to be one of the most complicated and specific insurance products.

This overview might be interesting for farmers who already own farms in Ukraine, or investors looking for farms for sale in Ukraine or even Ukraine’s land for sale (though this option might be available only after lifting moratorium in 2017).