Government sets 28 March deadline for Russian aviation insurance ban
The UK government revealed the insurance sanctions on 3 March in response to the invasion of Ukraine by Russia.
UK providers of Russian aviation and space insurance have to cancel all policies by 28 March, the government confirmed yesterday (9 March).
“This means cover is withdrawn on existing policies and UK insurers and reinsurers will be unable to pay claims in respect of existing policies in these sectors,” the Foreign, Commonwealth & Development Office and the Department for Transport reported in a joint statement.
The economic sanctions involving insurance and reinsurance were unveiled last week.
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