Lately there have been several major losses in Ukraine associated with the insured events such as fire in the DataLux warehouse in December 2007 ($ 39 mln worth of indemnity), gas explosion in “Azovstal” facility ($ 31 mln worth of indemnity), or fire in the “Eldorado”’s warehouse in August 2010 ($ 11.6 mln worth of indemnity). The gross volume of indemnities paid totaled to hundreds millions of dollars. Nonetheless many companies purchasing insurance policies are not happy with their coverage. The main reason for it that Ukrainian culture of insurance is not as developed as in mature markets. Let’s try to analyze the main flaws of the insurance that worry the Clients.

There are some standard mistakes in corporate property insurance which are made not only by novices in this field but also by those who’ve been drafting property insurance policies for several years now.

Katerina Shum offered 5 tips in favor of reconsidering the sum insured prior to corporate insurance policy renewal.

Due to the current economic slowdown retain chains, just like any other business in the country, tend to cut their expenses as much as they can. Unfortunately insurance expenses turn out to be the first ones to be considered irrelevant. This refers not only to health insurance expenses but to inventory and premises insurance as well.

Vitaliy Lebedovskiy commented on the insurance products requested by IT companies in Ukraine and explained why this sphere of insurance coverage is not that popular in our country. Despite enormous potential of the national IT market, insurance companies tend not to view this field as additional niche for development, making technological companies find the ways to cover their risks themselves.

Recent events in Ukraine such as sudden annexation of the Crimea, military clashes in Donetsk and Lugansk regions, US dollar exchange rate instability brought about coming up of the natural question relevant to both ordinary citizens and businessmen – is it possible to be insured against damage caused by civil commotions, terrorism or military operations?