Explainer: Can companies leaving Russia recoup losses through insurance?

📆 23/03/2022 11:00:00
📰 Reuters

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Hundreds of companies have said they are withdrawing or suspending operations in Russia after its invasion of Ukraine, from energy producer Shell Plc to carmaker Hyundai Motor Co to PwC, a global professional services firm.

The following is a look at how insurance and international arbitration might soften the blow to those companies, which stand to lose billions of dollars:Register

Berne Union, a trade association representing political risk insurers, estimated that $1 billion in new political risk insurance was written in Russia in 2020, its most recent data.

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Force majeure, insurrection and war clause usually limit insurance coverage.

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