Polish Treasury Insures Exports to Ukraine

by Meifan Honcharuk
Thursday, September 28, 2023
Polish Treasury Insures Exports to Ukraine

Andrzej Duda signed an amendment to the relevant law and allowed the "KUKE" insurance company to support reconstruction business in Ukraine

The edited law gives the Polish state insurance corporation KUKE a right to provide insurance to private Polish businesses. These changes concern the insurance of investors who want to participate in the reconstruction program of Ukraine with the participation of Polish companies. The Polish state treasury will be officially connected to the insurance of investors to restore Ukraine from the ashes of the war.

The law signed by Andrzej Duda intends to help Ukraine. Poland will cover insurance cases related to road and transportation in Ukraine and losses caused by non-payment for goods supplied/services rendered. The document also supports entrepreneurs in exporting finished goods to Ukraine, investments that will be implemented directly in Ukraine. In addition, investors can now insure branches at the same level as local companies. This will allow Ukrainian businesses to develop business in Poland.

"Among the new solutions is reinsurance by other insurers, in cases where the risk is above average or where it is not possible to obtain reinsurance on the commercial market. This will mainly concern the reinsurance of transport risks with commercial insurers. Thanks to this, Polish entrepreneurs will be able to carry out transportation to Ukraine and participate in the reconstruction process," the official statement said.

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