Politico EU: But when all this happens, who foots the bill?
If the companies are lucky, their insurers will. However, standard insurance only covers standard perils. It doesn’t cover war-like acts, which is what geopolitically linked acts of harm amount to. At least that’s what many standard insurers are unsurprisingly contending. And while specialized war insurers do offer coverage for war, doing so involves having to decide what exactly constitutes war-like acts.
The most detailed discussion of this fundamental question isn’t taking place at think tanks or universities. They’re taking place in the insurance industry, as vast amounts of money are at stake. And this — rendering European companies’ operations financially unsustainable — may, in fact, be Russia’s objective…