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Ukraine Insurance Policies Will Not Pay For War Damages


               
2022 Apr 4, 5:18am   274 views  4 comments

by ohomen171   follow (2)  

#insurancepolicyexclusions We all have seen pictures of destroyed cars, trucks, homes, office buildings, and apartment buildings in Ukraine. What most people do not realize is that the insurance policies that are supposed to protect these assets are voided. There are standard policy exclusions for war, military action, nuclear hazards, governmental actions, acts, or decisions. What this means is that all the assets of people and companies being destroyed have no insurance protection. Here is a link if you are interested:

https://www.propertycasualty360.com/2022/03/04/russian-attack-what-are-the-insurance-implications-414-218617/?slreturn=20220304055101&source=patrick.net

Their government will be too broke to mount a rebuilding program. How this will play out once hostilities end is that the taxpayers of the U.S., Canada, England, and the European Union will pay for the rebuilding of Ukraine.

Be thankful; that you are far away from this madness!

Comments 1 - 4 of 4        Search these comments

1   RWSGFY   2022 Apr 4, 7:29am  

There are several hundreds of billions of dollars worth of Russian assets already arrested. There will be more uncovered and arrested in the coming days and months. Eventually they will be used to
pay for the damages.
2   Tenpoundbass   2022 Apr 4, 7:52am  

Ukraine bombed them out, why would they cover their expenses? My guess is it's a real estate grab, and they get to blame Russia for it.

When you watch Patrick Lancaster, the locals he interviews points out the fact, that all of the damage to the apartment buildings are on the Ukraine side, if you walk over to the East side of the buildings where Russia is, there's not pock mark or bullet hole anywhere to be found.
3   TheAntiPanicanLearingCenter   2022 Apr 4, 2:38pm  

RWSGFY says
There are several hundreds of billions of dollars worth of Russian assets already arrested. There will be more uncovered and arrested in the coming days and months. Eventually they will be used to
pay for the damages.


Nah, that will be us. Conditional on issuing some high interest bonds for Wall Street.

Did Iraq ever pay us back?
4   Booger   2022 Apr 4, 6:08pm  

That is a standard insurance policy clause everywhere. No way would they pay for war damage. It would bankrupt them, and pretty quickly too. This is what reparations are for. But since Russia doesn't have the money to pay it, they will be giving away their gas and oil for decades instead.

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