Busin Insurance Company (Kyiv) has resumed the operation of the largest obligatory aviation liability reinsurance contract on the Ukrainian insurance market with a limit of $550 million and an obligatory reinsurance contract for aviation CASCO with a capacity of $6 million, according to the website of the insurer.
It is also noted that the well-known syndicates of Lloyds and the world’s leading companies with a high rating of financial reliability are involved in reinsurance contracts. The obligatory program fully applies to retrocession risks, which guarantees prompt consideration of proposals and reliable coverage of risks from reinsurance partners.
SK “Busin” was registered in February 1993. Specializes in risk types of insurance. He is a member of a number of professional and industry associations: the League of Insurance Organizations of Ukraine, the National Insurance Claims Club, the International Association of Aviation Insurers (UA), the Nuclear Insurance Pool, the American Chamber in Ukraine, the British Business Club.
Ukraine’s State Air Traffic Services Enterprise (UkSATSE) and Busin Insurance Company (Kyiv) have concluded an agreement on compulsory aircraft insurance on June 27 (3 planes), according to information on the ProZorro portal. The bid was expected at UAH 3.127 million, Busin’s actual bid was UAH 2.920 million.
IC INGO whose bid was UAH 2.940 million also took part in the bidding.
UkSATSE was founded in 1992. The main mission of UkSATSE is to provide an efficient and safe air navigation services in the Ukrainian airspace and in the airspace over the high seas where the responsibility for providing air traffic services is delegated to Ukraine under the international agreements.
It services five areas of responsibility covering 774,569 km.
