Poland will insure investors interested in the restoration of Ukraine

Polish President Andrzej Duda signed an amendment to the Act on Export Insurance Guaranteed by the State Treasury. This decision, among other things, allows the Polish state-owned KUKE Insurance Corporation to provide more effective assistance to private businesses interested in the restoration of Ukraine. This was reported by the press service of the Ministry of Economy of Ukraine.

"This is the first such comprehensive insurance instrument that supports the investment and operations of Polish companies in Ukraine. We hope that this important step by Poland will be an impetus for the insurance market and other countries to more actively provide guarantees to companies operating in Ukraine. As a result, this will help attract more investments and new players to enter the Ukrainian private sector," said Yuliia Svyrydenko, First Deputy Prime Minister and Minister of Economy of Ukraine.

The act is the basis of the program of restoration of Ukraine with the participation of Polish businesses. In fact, with this act, Poland has established a program for the restoration of Ukraine with the participation of Polish businesses.

The program includes three points:

Secure trade with Ukraine. The insurance covers a wide range of risks—in particular, it protects Polish companies from losses caused by failure to pay for goods delivered or services rendered. It also includes reinsurance of transport insurance and a guarantee protecting banks issuing letters of credit.

Support for investments by Polish companies. Support for entrepreneurs in financing investments implemented in Poland for export to Ukraine and beyond. As well as those investments that will be implemented directly in Ukraine. This is especially true for new acquisitions and mergers.

Support for the development of Ukraine. Ensuring financing for investment projects implemented by Polish or foreign entrepreneurs for private and public investors from Ukraine.

New solutions include reinsurance by other insurers. This will be the case if the risk is above average or if it is impossible to obtain reinsurance on the commercial market. This will mainly apply to the reinsurance of transportation risks with commercial insurers (including hull and third-party liability insurance). This will allow Polish entrepreneurs to carry out transportation to Ukraine and participate in the reconstruction process.

The new Polish act also provides for the insurance of Polish branches of foreign companies on an equal footing with local companies. This is an opportunity for Ukrainian companies to expand their business in Poland on better terms.