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Ukraine insurance facility for grain expands to include all products shipped via Black Sea, tripling in size

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An insurance facility that has enabled ships to carry grain out of Ukraine via the Black Sea despite war-related risks is expanding to include all other products, one of the facility's organizers said.

The expansion, which excludes war-related goods, is already in effect but a formal announcement will take place on Friday, March 1, said Crispin Ellison, a partner at Oliver Wyman, a consultancy of insurance brokerage Marsh McLennan.

The addition will triple the size of the "Unity facility" launched in November last year to end a costly halt to the shipping of Ukrainian agricultural commodities, Ellison said.

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