VUSO for business: property insurance for companies covering war risks | IC “VUSO”

Dozens of Russian missiles are flying into Ukraine every day. The enemy's aggression causes enormous losses: as of January 2024, the total amount of infrastructure losses has increased to almost $155 billion, according to a study by the Kyiv School of Economics. Over the course of more than 2 years of full-scale war, 78 small, medium and large private enterprises, as well as 348 state-owned enterprises, have been destroyed or damaged. The losses of industry and businesses amounted to more than $13.8 billion.

In such circumstances, Ukrainian business faced a global question: “How to protect the property of enterprises from the consequences of hostilities?”. One of the most effective ways to solve this problem is to support insurance companies.

VUSO Insurance Company is already actively working in this area, offering unique product solutions to the B2B segment. First and foremost, it is about insurance of corporate property covering military risks.

This type of insurance protects corporate clients from losses caused by damage or destruction of property due to direct or indirect impact of missiles, drones of any type, aircraft munitions, air and missile defense equipment, as well as fragments of these types of weapons. The sum insured is up to UAH 10,000,000 for each individual insured property complex.

All enterprises are accepted for insurance EXCEPT:

• energy, military, port infrastructure facilities;
• airports and seaports;
• facilities located closer than 100 km to the nearest point of hostilities;
• facilities located at a distance closer than 1 km to military facilities;
• politically significant objects;
• hotels;
• unfinished construction projects that have not been put into operation.

VUSO also offers protection for cars of legal entities under the Patriot comprehensive insurance program, which guarantees full coverage of military risks without any limitations on the number of insured events.

Insuring the property of enterprises against war risks is not only a strategic step to ensure security and stability, but also an important element of risk management. Reliable protection of investments allows companies to focus on their core business, and VUSO will take care of the rest.

For reference. VUSO Insurance Company is a company with Ukrainian capital, which was established in 2001. During the period of its activity, the insurer has established itself as a reliable player in the insurance market, as evidenced by the current financial strength rating uaAA, assigned by the rating agency Standard Rating. VUSO specializes in motor, health, and travel insurance for both corporate clients and individuals.

VUSO Insurance Company fully complies with the requirements of the current legislation. As of today, the company has 50 licenses: 17 for voluntary and 33 for compulsory insurance. For the convenience of customers, there are 34 representative offices, 2 branches and more than 20 agency sales centers in all regions of our country. VUSO is a full member of the Motor Transport Insurance Bureau of Ukraine (MTIBU), the Kyiv Chamber of Commerce and Industry, the National Association of Insurers of Ukraine and the Nuclear Insurance Pool of Ukraine. In July 2023, the National Bank confirmed the transparency of the structure of VUSO Private Joint Stock Company.