State resources for business support programs are reaching their limit
Ukrainian businesses are actively utilizing state programs for property loss compensation and war risk insurance, with claims totaling 7.63 billion UAH. However, according to Daniil Getmantsev, head of the parliamentary committee, state budget capacity to scale these programs is currently limited. This was reported by Minfin, according to the portal PromPolitInform.
According to updated data from the Ministry of Economy, entrepreneurs have submitted 730 applications for partial compensation for destroyed or damaged property. Out of this total, 367 applications have already been approved, with an estimated compensation value of 7.63 billion UAH. Furthermore, 215 applications have been processed under the war risk insurance premium reimbursement program.
Limited state budget capacity
Daniil Getmantsev noted that these figures demonstrate a genuine demand from the business sector for such support mechanisms. At the same time, he stated that the potential for significantly expanding the insurance program through state funding has been exhausted.
New war risk insurance mechanisms
Currently, the government is working on a broader war risk insurance framework, where the state would cover part of the risks that the private insurance market is not yet ready to underwrite. Possible parameters under discussion include insurance coverage of up to 10 million USD, with an estimated insurance cost of approximately 2%.
Photo: Minfin
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