Polish President Andrzej Duda signed an amendment to the law on export insurance guaranteed by the State Treasury, which allows the Polish state insurance corporation KUKE to provide more effective assistance to private businesses interested in the reconstruction of Ukraine.

The law is the basis for the reconstruction program of Ukraine with the participation of Polish business.

The program includes three points. The first is safe trade with Ukraine. The insurance covers a wide range of risks, in particular, it protects Polish companies against losses caused by non-payment for delivered goods or services. And it also includes reinsurance of transport insurance and a guarantee that protects the banks that issue bills of credit.

The second item is support for investments by Polish companies, support for entrepreneurs in financing investments implemented in Poland for export to Ukraine and beyond. As well as those investments that will be implemented directly in Ukraine. This is especially true of new takeover and acquisition projects.

The third one is support for the development of Ukraine, providing financing for investment projects implemented by Polish or foreign entrepreneurs for investors from Ukraine (private and public).

Among new solutions there is the implementation of reinsurance by other insurers in cases where the risk is above average or when it is impossible to obtain reinsurance on the commercial market.

The new Polish law also provides opportunities to insure Polish branches of foreign companies at one level with local companies. For Ukrainian companies, this is an opportunity to expand business in Poland on better terms.

Reference source: https://bit.ly/3ZaK696