The facility was created along with Ukrainian authorities to use the country’s sea corridor. Ukrainian authorities and marine insurance broker Miller have collaborated to create a new marine coverage facility for Ukraine’s grain experts using the country’s sea corridor. In July, Russia backed out of a UN-supported deal to allow Ukraine’s grain exports to sail from three ports. Since Russia’s withdrawal from the deal, Kyiv has created what it refers to as a new temporary humanitarian corridor for the purpose of sidestepping the stoppage Russia has put in place. Recently,…
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Massive insurance battle results from Russia’s seizure of 400 planes
Aircraft lessors are filing claims for payouts, but insurers don’t agree that coverage extends that far. When Russia invaded Ukraine, it threw a number of markets into turmoil, and in the case of the aircraft market, it has also led to a tremendous insurance battle. Aircraft leasing firms provide approximately half of the 1,000 planes in Russian airline fleets. The aircraft leasing firms are from outside Russia and are finding themselves locked between Russian airlines that refuse to pay and insurers who say they’re not obligated to do so. This…
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