Aon and Marsh McLennan call on (re)insurance industry to aid Ukraine's resilience
Aon and Marsh McLennan have called on the (re)insurance industry to support Ukraine's resilience by removing blanket exclusions and providing essential insurance capital. The firms emphasize that current exclusions, which group Ukraine with Russia and Belarus, impede economic growth and ignore the diversity of risk within the country. They argue that data-driven risk assessment should guide (re)insurance decisions, recognizing Ukraine's efforts to align with free and democratic economies.
Both companies are actively working with governments and international organizations to support Ukraine's economy. Marsh McLennan has expanded its public-private partnership to cover shipping to and from Ukrainian ports, while Aon has created a war risk insurance program with the U.S. International Development Finance These initiatives aim to stimulate economic expansion and strengthen Ukraine's foundation for post-conflict reconstruction.
Aon e Marsh McLennan hanno invitato l'industria (ri)assicurativa a sostenere la resilienza dell'Ucraina rimuovendo le esclusioni generali e fornendo capitale assicurativo essenziale. Le aziende sottolineano che le esclusioni attuali, che raggruppano l'Ucraina con Russia e Bielorussia, ostacolano la crescita economica e ignorano la diversità dei rischi all'interno del paese. Sostengono che una valutazione del rischio basata su dati dovrebbe guidare le decisioni (ri)assicurative, riconoscendo gli sforzi dell'Ucraina per allinearsi con economie libere e democratiche.
Entrambe le aziende stanno lavorando attivamente con governi e organizzazioni internazionali per sostenere l'economia ucraina. Marsh McLennan ha ampliato la sua partnership pubblico-privato per coprire il trasporto da e per i porti ucraini, mentre Aon ha creato un programma di assicurazione contro i rischi di guerra con l'U.S. International Development Finance. Queste iniziative mirano a stimolare l'espansione economica e a rafforzare le fondamenta dell'Ucraina per la ricostruzione post-conflitto.
Aon y Marsh McLennan han invitado a la industria (re)aseguradora a apoyar la resiliencia de Ucrania eliminando las exclusiones generales y proporcionando capital de seguros esencial. Las empresas enfatizan que las exclusiones actuales, que agrupan a Ucrania con Rusia y Bielorrusia, impiden el crecimiento económico e ignoran la diversidad de riesgos dentro del país. Argumentan que una evaluación de riesgos basada en datos debería guiar las decisiones (re)aseguradoras, reconociendo los esfuerzos de Ucrania para alinearse con economías libres y democráticas.
Ambas compañías están trabajando activamente con gobiernos y organizaciones internacionales para apoyar la economía de Ucrania. Marsh McLennan ha ampliado su asociación público-privada para cubrir el transporte hacia y desde los puertos ucranianos, mientras que Aon ha creado un programa de seguro contra riesgos de guerra con la U.S. International Development Finance. Estas iniciativas tienen como objetivo estimular la expansión económica y fortalecer la base de Ucrania para la reconstrucción postconflicto.
Aon과 Marsh McLennan은 (재)보험 산업에 우크라이나의 회복력을 지원하도록 촉구하며 일반적인 제외 조건을 제거하고 필수 보험 자본을 제공할 것을 요청했습니다. 이 두 회사는 우크라이나를 러시아 및 벨라루스와 함께 묶는 현재의 제외 조건이 경제 성장에 방해가 된다고 강조하며, 이로 인해 국가 내의 위험 다양성이 무시된다고 지적합니다. 그들은 데이터 기반의 리스크 평가가 (재)보험 결정의 기초가 되어야 하며, 이는 우크라이나가 자유롭고 민주적인 경제에 맞추기 위한 노력을 인정해야 한다고 주장합니다.
두 회사는 정부 및 국제 기구와 적극적으로 협력하고 있습니다 우크라이나의 경제를 지원하기 위해. Marsh McLennan은 우크라이나 항구와의 모든 운송을 포함하는 공공-민간 파트너십을 확대했으며, Aon은 미국 국제 개발 금융과 함께 전쟁 위험 보험 프로그램을 만들었습니다. 이러한 이니셔티브는 경제 성장을 촉진하고 전후 재건을 위한 우크라이나의 기반을 강화하는 것을 목표로 하고 있습니다.
Aon et Marsh McLennan ont appelé l'industrie de l'(re)assurance à soutenir la résilience de l'Ukraine en supprimant les exclusions générales et en fournissant un capital d'assurance essentiel. Les entreprises soulignent que les exclusions actuelles, qui regroupent l'Ukraine avec la Russie et la Biélorussie, entravent la croissance économique et ignorent la diversité des risques dans le pays. Elles soutiennent qu'une évaluation des risques basée sur des données devrait guider les décisions (re)assurantielles, reconnaissant les efforts de l'Ukraine pour s'aligner sur des économies libres et démocratiques.
Les deux entreprises travaillent activement avec les gouvernements et les organisations internationales pour soutenir l'économie ukrainienne. Marsh McLennan a élargi son partenariat public-privé pour couvrir le transport vers et depuis les ports ukrainiens, tandis qu'Aon a créé un programme d'assurance contre les risques de guerre avec l'U.S. International Development Finance. Ces initiatives visent à stimulé l'expansion économique et à renforcer les fondements de l'Ukraine pour la reconstruction après le conflit.
Aon und Marsh McLennan haben die (Re)Versicherungsbranche aufgefordert, die Resilienz der Ukraine zu unterstützen, indem sie allgemeine Ausschlüsse beseitigen und essentielles Versicherungskapital bereitstellen. Die Firmen betonen, dass die derzeitigen Ausschlüsse, die die Ukraine mit Russland und Weißrussland zusammenfassen, wirtschaftliches Wachstum behindern und die Vielfalt der Risiken im Land ignorieren. Sie argumentieren, dass datenbasierte Risikobewertungen die Entscheidungen der (Re)Versicherung leiten sollten, wobei die Bemühungen der Ukraine anerkannt werden, sich mit freien und demokratischen Volkswirtschaften zu verbinden.
Beide Unternehmen arbeiten aktiv mit Regierungen und internationalen Organisationen zusammen, um die Wirtschaft der Ukraine zu unterstützen. Marsh McLennan hat seine öffentlich-privaten Partnerschaften ausgeweitet, um den Transport zu und von ukrainischen Häfen abzudecken, während Aon ein Kriegsrisiko-Versicherungsprogramm mit der U.S. International Development Finance eingerichtet hat. Diese Initiativen zielen darauf ab, wirtschaftliches Wachstum zu stimulieren und die Grundlage der Ukraine für den Wiederaufbau nach Konflikten zu stärken.
- Aon and Marsh McLennan are actively supporting Ukraine's economic resilience
- Expansion of insurance coverage for shipping to and from Ukrainian ports
- Creation of a first-of-its-kind war risk insurance program for businesses in Ukraine
- Potential for increased (re)insurance capital flow into Ukraine's economy
- Current blanket exclusions in (re)insurance contracts limiting economic growth in Ukraine
- Grouping of Ukraine with Russia and Belarus in risk assessments, potentially deterring investors
- Confusion about risk levels in different regions of Ukraine affecting underwriting decisions
Insights
This call from Aon and Marsh McLennan is a significant development for Ukraine's economic resilience. The removal of blanket exclusions could be a game-changer for the country's reconstruction efforts. By differentiating between high-risk areas and relatively stable regions, insurers can provide more targeted coverage, potentially unlocking important investment in sectors like healthcare, energy and agriculture.
The proposed data-driven approach to risk assessment is particularly noteworthy. It could lead to more nuanced underwriting practices, allowing for better risk management and potentially lower premiums in less affected areas. This could stimulate economic activity and attract foreign investment, which is vital for Ukraine's recovery.
However, insurers will need to carefully balance their risk appetite with the potential for significant claims. The ongoing conflict presents unique challenges that will require innovative solutions and possibly new forms of public-private partnerships to manage effectively.
This initiative by Aon and Marsh McLennan carries substantial geopolitical implications. By advocating for the separation of Ukraine from Russia and Belarus in risk assessments, these industry leaders are effectively reinforcing Ukraine's alignment with Western economies. This move could accelerate Ukraine's integration into the European economic sphere and potentially fast-track its EU membership aspirations.
The emphasis on Ukraine as a "free and democratic economy" is particularly telling. It signals a shift in perception that could influence not just the insurance sector, but broader international economic policies. However, this approach might also escalate tensions with Russia, potentially leading to retaliatory economic measures.
The success of this initiative could set a precedent for economic support in conflict zones globally, potentially reshaping how the international community approaches economic resilience in geopolitically volatile regions.
The potential economic impact of this initiative is substantial. By facilitating insurance coverage, particularly for war risks, Aon and Marsh McLennan are effectively creating a financial safety net for businesses operating in Ukraine. This could lead to increased foreign direct investment, job creation and overall economic growth.
The focus on key sectors like healthcare, energy and agriculture is strategically sound. These are foundational industries that, if properly insured and invested in, could kickstart a broader economic recovery. The ripple effects could extend to related sectors, potentially accelerating Ukraine's overall economic reconstruction.
However, it's important to note the potential risks. If the conflict escalates or spreads to previously unaffected areas, insurers could face significant losses. This initiative will require careful risk management and possibly innovative reinsurance structures to be sustainable in the long term.
- The firms emphasized that the removal of blanket exclusions would catalyze
Additionally, since the start of the war, many global reinsurers have grouped risks originating in
"Marsh McLennan is dedicated in our support of
"Aon's support of
Marsh McLennan and Aon each are already working with the
In March, Marsh McLennan announced the expansion of its public-private partnership with the
In June, Aon worked with the
The firms assert that arbitrary exclusions for
About Aon
Aon plc (NYSE: AON) exists to shape decisions for the better — to protect and enrich the lives of people around the world. Through actionable analytic insight, globally integrated Risk Capital and Human Capital expertise, and locally relevant solutions, our colleagues provide clients in over 120 countries with the clarity and confidence to make better risk and people decisions that protect and grow their businesses.
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About Marsh McLennan
Marsh McLennan (NYSE: MMC) is a global leader in risk, strategy and people, advising clients in 130 countries across four businesses: Marsh, Guy Carpenter, Mercer and Oliver Wyman. With annual revenue of
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FAQ
What are Aon and Marsh McLennan calling for regarding Ukraine's insurance coverage?
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