Lloyd’s backs new insurance product for people working in Ukraine

Insurance advisory firm Inherent Risks has launched a new indemnified duty of care product to support people working and volunteering in Ukraine.

In a statement released today (24 August 2023), the business said its Ukraine Response proposition would enable individuals and groups to safely (re)enter Ukraine and (re)establish operations.

It is backed by A-rated capacity from Lloyd’s of London and company market insurers.

Dan Kaine, head of risk and crisis advisory at Inherent Risks, said: ”From our extensive experience providing essential services to literally thousands of staff and volunteers from global organisations travelling into and around Ukraine, it became apparent that a more affordable and agile medical and crisis response option was needed.

”Working with brokers, underwriters and compliance specialists, we have developed a solution that is fit for purpose.”

Offering

The Ukraine Response product includes medical and crisis response memberships.

The medical response membership offers $250,000 (£197,600) worth of services, including bill payment for medical treatment in Ukraine and medical evacuation from the country.

Meanwhile, the crisis response membership offers $150,000 (£118,500) worth of services in the event of a credible security incident or threat against an individual or organisation.

The proposition also offers consumers a suite of travel risk management tools, including a pre-travel safety brief, itinerary tracking and check-in, incident alerts, 24/7 medical and security advice as well as a risk map.