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Quite often Western buyers of pharmaceuticals require their Ukrainian counterparts to have the Product Liability Insurance policy. Unfortunately, this type of coverage is normally excluded from the obligatory reinsurance policies of Ukrainian insurers. Nevertheless, in February we managed to place this risk with one of our partners. The quoted limit constituted USD 1 mln.
It’s worth mentioning, that it wasn’t a pilot project for us since we had successfully completed similar projects in the past.