Insurance companies close Ukraine’s airspace
The largest international insurers are preparing to announce on Monday that they will no longer cover insured events for airlines flying over Ukraine.
International insurers began to demand that the planes of foreign carriers, which they serve, should not remain parked in Kiev. It is believed that such measures will lead to the suspension of flights to Ukraine by foreign companies. Also, problems may arise with domestic airlines.
And the head of the Association of Insurance Businesses, Vyacheslav Chernyakhovsky, did not rule out the possibility of international insurance companies withdrawing the guarantees. He noted that “the insurance market has become tense” after the Dutch KLM statement about termination of employment in Ukraine and a mass recall of embassy workers.
Foreign reinsurers can leave the decision on guarantees to insurers, but they are unlikely to assume such responsibility. And airlines are unlikely to risk passengers and planes. Therefore, we will literally see an empty sky – no foreign or Ukrainian airlines will fly,” Chernyakovsky believes.
According to the owners of private planes, they received a notification that within 48 hours the insurance guarantees of their planes will be withdrawn, so the plane must leave Ukraine before the expiration of this period.
This information was confirmed by a source in the insurance market. On February 12, the largest British insurers, which reinsured other international companies, sent an official letter to all lessors that insurance coverage for any aircraft over Ukraine and in the same country had ceased to operate within 48 hours.
