Global conflicts drive demand for war risk insurance

Wars in Ukraine and the Middle East are fuelling take-up of cover against impact and damage.

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When a Russian missile damaged Natalia Grishko's apartment in a tower block on the outskirts of Kyiv last November she thankfully was not injured.

Mrs Grishko's daughter, Alina Kalcheva, says the missile fell about 100m (328ft) from the building. "The blast wave damaged my mother's balcony, windows, doors, and the interior of the apartment."

While her mum was "of course very upset and cried" to begin with, Mrs Kalcheva says she ultimately felt calm because they had insured the flat against such an attack.

For while general household insurance doesn't cover conflict damage – whether you live in Ukraine or a country not under attack - Mrs Kalcheva had had the foresight to take out specialist war risk insurance cover for her mother. And the insurer paid out $1,000 (£740) to help cover the repairs.