Ordinary insurance and war risk insurance are two different things. Which of them do you actually hold?

A company in Ukraine can still insure its property and other risks as before. Damage that war causes sits in its own layer, called war risk insurance.

This page is a checklist and it cannot tell you what your policy says. Your policy wording and your broker can. This check list can help you identify what to ask, to ensure you are better prepared.

1. Find out how your policy treats war

Find the war wording in each policy. Then ask your broker, in writing: is war damage covered, left out, or sold separately?

Then read the exact words used in the policy. Policies use different terms: war, terrorism, political violence. Check which of them your policy uses, and what each one means in your wording.

2. Ask line by line

Ask the question for every category in your policy: property, cargo, vehicles, liability, medical, accident and travel. The answer can actually differ from line to line.

3. Prepare your own answers first

Whoever prices war risk will study your business before they quote. Expect questions on:

• Industry. A defence-tech company and a grocery supplier are not the same risk.
• Location. Be ready to describe where exactly your activities are, not only the region.
• Neighbours. If the site next door is a target, your risk rises sharply, even when you yourself may not be a target.
• Business value. What your property and business are worth. Have the figures ready.
• Logistics. How goods and people reach your site

4. Expect a made-to-measure answer

There is no standard war risk product to pick from a shelf. Timing matters too. The front line moves, and what is available can move with it. Each request is built for the client, often by combining insurers from Ukraine with international markets. One approach is to place international political risk cover next to local cover for your physical assets. Ask your broker how the pieces fit together, and where they meet. The price depends on the risk.

5. Ask about public schemes

Public bodies also support war risk cover. Ukraine’s Export Credit Agency runs a state scheme that has been in force since 1 January 2026. MIGA, part of the World Bank Group, and the US development finance body DFC support political and war risk cover for investment in Ukraine. Each scheme has its own rules on who can use it, and some are open only to Ukrainian residents. Ask your broker which ones, if any, fit your legal entity: the Ukrainian company, the foreign parent, or both.

6. Check what has changed

As of October 2026 we can say that attacks on Ukraine have increased over the past year. Cover for some areas and industries is harder to arrange, and terms keep moving. What was valid last month may not be valid today. Ask for the current position for your own site, and date every answer you rely on. That includes this page.

7. Use a broker who knows Ukraine

Ordinary insurers may show little interest in Ukraine, offer little, or know the market only a little. A broker with current market insight and direct contact with insurers can check what is available for you today.

We like to play it safe – and that’s what we recommend to you as well: Take your policy to us

Nordic Broker is a team of insurance brokers in Helsinki with more than 30 years of experience. We operate in Ukraine and function under Finnish Finanssivalvonta. Send us your current policy wording and tell us where you work. We will go through it with you.