FEATURES OF THE PROVISION OF INSURANCE SERVICES UNDER THE CONDITIONS OF MARTIAL STATE

Abstract

Purpose: to find out the impact of military operations on insurance services.

Materials and Methods. Scientific articles by Ukrainian and international scientists, data from the websites of insurance companies served as research materials. The methods of structuring, analysis and generalization of information were used in the process of this research.

Results. The key innovation of the current stage of activity of Ukrainian insurance companies is that, while military operations are usually the basis for denial of insurance, after February 24, 2022, most insurance companies decided to pay out in case of injuries as a result of military operations (this applies to civilians). At the same time, an indispensable clause is a warning that the decision on coverage is made on a case-by-case basis, taking into account all circumstances.

As of today, at the end of the second year of Russia’s full-scale war against Ukraine, almost all major players in the Ukrainian insurance market have created products that provide insurance for individuals and property against war risks. Such insurance is offered by the largest companies - Knyazhaya VIG, INGO, Universalna, SG TAS, Metlife, ARX, VUSO, Arsenal Insurance, etc. However, it is worth noting that such insurance policies have many limitations. For almost all companies, the exception is the regions where military operations are taking place – no insurance is issued for them. Although, for example, ARX offers the “Armor Protection” program, which operates without geographical restrictions across the country, such insurance is not available for combatants.

Despite the fact that at the current stage a large number of companies provide insurance against war risks, only TAS-Life Insurance Company provides insurance for military personnel since May 2023, although it depends on whether the military personnel is in a high-risk area at the time of the insured event or not.

Conclusion. Thus, since the beginning of the full-scale invasion of Ukraine by the Russian Federation, Ukrainian insurance companies have responded to the request of citizens and businesses, and therefore, these companies have developed new products that insure health, life, movable and immovable property against risks associated with military operations, but only TAS-Life Insurance Company provides insurance for military personnel.