Aon and Marsh McLennan have jointly urged the removal of blanket exclusions in reinsurance contracts for risks related to Ukraine, Russia, and Belarus, arguing that such exclusions oversimplify the diverse risks in the region. In a statement, they emphasized how these blanket exclusions stifle insurance and reinsurance capital, which is crucial for economic stability and growth in Ukraine amid the ongoing conflict. The firms highlighted their commitment to supporting Ukraine’s recovery efforts, advocating for a more nuanced approach to risk assessment that differentiates regions affected by the war from those that have been less impacted. They called upon the global insurance community to foster public-private partnerships that can bolster investment and reconstruction in Ukraine’s economy.
