Will Insurance Protect Your Company in Times of War?

The article examines how insurance can protect companies from the economic and operational risks posed by armed conflict, emphasizing that war exclusions in policies do not necessarily leave businesses without coverage. It highlights the evolving nature of war risk, noting that recent conflicts like those in Ukraine and Iran have affected developed economies and demonstrated that specialized insurance products—including parametric insurance and standalone war and political violence coverage—can enhance corporate resilience. The article advises companies to proactively assess their policies for war risk coverage, consider innovative insurance solutions, and work with knowledgeable brokers to manage exposure effectively. It underscores the importance of preparing for war-related risks in today’s volatile geopolitical environment to ensure business continuity and recovery. [Extracted from the article]