Big business proposes involving the state in insuring industrial facilities against air attacks. The Russian Union of Industrialists and Entrepreneurs (RUIE) is discussing this issue with the Central Bank and the Ministry of Finance, said Alexander Shokhin, head of the association, in an interview with TASS. According to him, legislative changes may also be required.
The first problem is military risks. Shokhin called them a new type of risk that businesses face today, but there is no definition for them in Russian insurance legislation. The head of the RUIE proposed equating military risks with terrorist risks — this would require appropriate amendments. According to his assessment, if necessary, the State Duma can adopt them promptly: deputies of the previous convocation already adopted bills in three readings at one session, and the new composition of the lower house will probably also cope with this.
The second problem is more complex. Shokhin noted that military risks cannot be insured by the market — they would be an unbearable burden on companies. According to him, state support from the National Reinsurance Company is needed here.