KUKE restores insurance cover for Ukraine
Starting 13 June 2022, Polish companies will be able to insure their transactions with Ukrainian buyers concerning exports of goods and services that are exempted from the payment moratorium introduced by the National Bank of Ukraine.
KUKE, with the support of the Polish government and following the positive decision of the Export Insurance Policy Committee, reestablished the possibility of insuring receivables under export contracts with Ukrainian buyers. The insurance may cover goods or services excluded from the payment moratorium payment moratorium introduced on 24 February 2022 by the National Bank of Ukraine. The full list of is published on the website of the Ukrainian parliament.
The insurance is available both for companies that have already insured their receivables with KUKE and for those that have never worked with KUKE before. The insurance cover will be extended on the basis of the standard General terms and conditions of the Policy Beyond Borders credit insurance facility.
A Polish exporter who wants to deliver goods to a Ukrainian business partner should first agree with him whether the ordered goods are on the list of goods excluded from the payment moratorium. KUKE will also verify whether the Ukrainian business is active and whether the ordered products are excluded from the payment moratorium.
By the end of 2022, KUKE will be able to grant credit limits for Ukrainian companies worth PLN 500 million.
In 2021, KUKE insured goods and services worth PLN 1.5 billion exported to the Ukrainian market, thus covering 5 per cent of total exports to Ukraine.
It is worth noting that only a few European export credit agencies allow for limited insurance of sales to Ukrainian, which puts Poland in the forefront of countries actively supporting both its business and the economy of Ukraine.
Protect yourself in the event of non-payment by your customers.
- Grow your business without worrying about getting paid.
- Export safely even to the most remote markets across the world.