RSPP Pushes for State-Backed Insurance Against Military Risks
The Russian Union of Industrialists and Entrepreneurs (RSPP) is working with the Central Bank and the Ministry of Finance on new insurance norms for industrial facilities against military risks, including air attacks, due to the impossibility of market-based insurance. The RSPP proposes using the state-owned National Reinsurance Company of the Central Bank to support this effort.
Consensus
- The Russian Union of Industrialists and Entrepreneurs is collaborating with the Central Bank of Russia and the Ministry of Finance on new norms for insuring industrial facilities against military risks.
- Market-based insurance for military risks is considered unfeasible.
- The National Reinsurance Company of the Central Bank is proposed as a key instrument to support this insurance system.
- Military risks are described as a new type of threat requiring legislative recognition and state support.
- The RSPP emphasizes that private market insurance would place an unbearable burden on companies.
Points of divergence
- The RSPP is discussing with the government, the Central Bank, and the Ministry of Finance the expansion of the National Reinsurance Company's capabilities to cover military risks. — vedomosti
- The issue became more urgent after drone attacks on Wildberries, Ozon, and Yandex data centers. — vedomosti
- Yandex had previously insured part of its infrastructure against terrorist risks, but the coverage expired before the attack, and the company failed to renew it in time. — vedomosti
- A Yandex representative denied the accuracy of the report about insurance coverage. — vedomosti
- On 17 September, First Deputy Prime Minister Denis Manturov stated that the government and regions should ensure compensation for businesses' investments in protection against air threats. — vesti
Coverage (2 sources)
- Shokhin stated that RSPP is working on new norms for protecting industry — Вести
- Shokhin: RSPD discusses with the Central Bank and the Ministry of Finance insurance of enterprises against air attacks — Ведомости
Key entities
- RSPC
- Alexander Shokhin
- Ministry of Finance
- Russia
- TASS
- Moscow
- CB
- Central Bank
- Bank of Russia
- National Reinsurance Company