Russian insurance companies have begun writing policies covering terrorism and sabotage risks, including certain consequences of drone attacks, on their own account without reinsurance protection from the state-owned Russian National Reinsurance Company (RNRC). Kommersant reported the development on November 5, citing insurance industry participants.
Insurers surveyed by the newspaper said this cover typically has a limit of 100–700 million roubles per property. At the three largest companies, the range is approximately 300–500 million roubles. By comparison, a new RNRC scheme allows reinsurance protection for the relevant risks of up to 10 billion roubles per event.
Insurers are primarily offering the standalone cover for non-industrial property, privately owned assets and businesses that have not previously suffered insured losses from drone attacks. The available limit depends on a property's location and the nature of the business, with stricter terms for higher-risk assets.
Kommersant's sources linked the shift to changes in RNRC rules. The company said it discussed the new approach with the industry in May and introduced it on October 1. According to RNRC, around 20,000 policies have already been issued under the new contracts.