This article was published by Captive Insurance Times on August 24th, 2023.
Inherent Risks has launched a ‘Medical Evacuation and Crisis Response Membership’ to enable safe passage to (re)enter Ukraine, and (re)establish operations.
Inherent Risks is a global risk advisory firm, it collaborated with Guernsey-based captive Opportuna, LLoyd’s and company market insurers to develop the membership.
The firm says ‘the membership covers medical and crisis response, with no war exclusions. It also has its own Ukraine-based teams to respond in the event of an incident.”
Its medical response membership will offer US$ 250,000 of medical services. This will include bill payment for medical treatment in Ukraine, medical evacuation from Ukraine, and repatriation home; at a cost of US $39 per person, per day.
Its crisis response membership will offer $150,000 of crisis services in the event of a credible security incident or threat against an individual or organisation, for $19 per person, per day.
Inherent Risks has provided risk advisory and other services in Ukraine since February 2022.
Dan Kaine, head of risk and crisis advisory, comments: “From our experience providing essential services to staff and volunteers from global organisations travelling into, and around Ukraine, it became apparent that a more affordable and agile medical and crisis response option was needed.”
Most organisations have an annual, global insurance policy in place, but many wanting to work in Ukraine are told that their policy is not valid in a war zone. Other insurance options on-the-market for short trips are expensive, labourious and require a broker.
Kaine adds: “[This] was unacceptable. Working with brokers, underwriters and compliance specialists, we have developed a solution that can be easily purchased online without a broker.”