Long-term war risk insurance model could be developed within months – NBU governor
The concept of a long-term war risk insurance model can be formed within several months, governor of the National Bank of Ukraine (NBU) Andriy Pyshnyy said in an interview with the Interfax-Ukraine agency.
"With the consent of all stakeholders, I will do everything in my power to ensure that, within a few months, we have a concept that we can agree on with our partners and discuss with stakeholders at the level of business associations. Then, we can move on to drafting the text of the law itself," he emphasized.
Pyshnyy reported that NBU specialists are currently analyzing international experience and considering different models.
"We are looking for our own sustainable, long-term model for insuring war risks. However, it is worth noting that even the limit that we already have for insuring war risks has not been fully utilized," the NBU governor explained.
According to Pyshnyy, one reason the Finance Committee of the Verkhovna Rada did not support the draft law on the war risk insurance system was the proposed creation of the State Agency for War Risk Insurance.
"This model was not supported due to the risk of imposing a new burden on taxpayers and creating additional obstacles to competition," Pyshnyy emphasized. He expressed the opinion that, even at an intermediate stage, the operator of this market should be in the commercial sector rather than the state.
In response to the question of when the new draft law could be submitted to Parliament, the NBU governor noted that: "There were these deadlines. I was counting on them. The draft law should have bene adopted in October 2025. However, after consulting with the government and parliament, we transitioned to a short-term war risk insurance program. The government developed the design of this program with the participation of the National Bank. The corresponding government resolution has already been adopted."