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28. February 2022

W. Droege: Important Information

Unfortunately, the current situation of war between the Ukraine, Belarus and Russia also has an impact on the insurance industry and thus also on the insurance policies written through us.
On the one hand, this applies to the state of war in Ukraine itself, but also to the sanctions that have been and will certainly be imposed on Russia and Belarus.
Below you will find an overview of the coverage of the insurance classes concerned. Nevertheless, we ask you to request current information from the websites of the European Union or your respective home country.
Marine liability insurance
Act of war

In principle, the risks of war, strikes and riots are excluded from the cover according to the insurance conditions.

No insurance coverage for damage caused by any of the mentioned risks.

Sanctions

In principle, the sanctions and embargoes imposed by the USA and the European Union on the economy, trade and finance are excluded from the cover.

There is therefore no coverage for a breach of the sanctions and embargoes.

Attention! It is very difficult to check the sanctions that have been imposed in individual cases or the situation of the applicable sanctions can change on a daily basis, from an insurance point of view. We recommend that you check your contractual partner before concluding a contract, in particular to find out from your customers whether these have a connection to Russia (Ultimate Beneficial Owners (UBO)).

Marine cargo insurance
Act of war

In principle, the risks of war, strikes and riots are excluded from the cover according to the insurance conditions. However, these risks can also be insured for sea and air transport on request or are already covered in current policies.

There is therefore no cover for damage caused by one of the mentioned risks for transports on land.

For sea and air transport, some insurers are currently terminating the war and strike clause for the territory of the Ukraine. In the event of termination, coverage will cease to exist within 48 hours of the date of notice.

Sanctions

In principle, the sanctions and embargoes imposed by the USA and the European Union on the economy, trade and finance are excluded from the cover.

There is therefore no coverage for a breach of the sanctions and embargoes.

Attention! It is very difficult to check the sanctions that have been imposed in individual cases or the situation of the applicable sanctions can change on a daily basis, from an insurance point of view. We recommend that you check your contractual partner before concluding a contract, in particular to find out from your customers whether these have a connection to Russia (Ultimate Beneficial Owners (UBO)).

For the reasons mentioned above, we can no longer confirm insurance cover to and from Russia with immediate effect.
Truck & Trailer
Act of war

In principle, the risks of war, strikes and riots are excluded from the cover according to the insurance conditions.

No coverage for damage caused by any of the aforementioned risks.

Sanctions

In principle, the sanctions and embargoes imposed by the USA and the European Union on the economy, trade and finance are excluded from the cover.

There is therefore no coverage for a breach of the sanctions and embargoes.

If you have any questions, please do not hesitate to contact us.

Contact

W. Droege Assekuradeur GmbH

Die W. Droege Assekuradeur GmbH verfügt als Assekuradeur über eine langjährige Versicherungsexpertise insbesondere im Logistikbereich. Der Hauptsitz ist Hamburg. Niederlassungen befinden sich in Erfurt und Wien.