Marsh McLennan cooperates with Ukraine in grain insurance

MOSCOW. Nov 17 (Interfax) - Marsh McLennan, in collaboration with the Ukrainian government, the Export Credit Agency of Ukraine, Ukreximbank, Ukrgasbank and DZ Bank, announced on November 15 the launch of a new facility - Unity - to provide affordable insurance supporting the export of grain and other critical food supplies from Ukraine's Black Sea ports.

Underwritten by insurers based at Lloyd's of London, Unity will provide up to $50 million in hull and separate protection and indemnity (P&I) civilian risk insurance, Ukrainian media said, citing the Marsh website. Ukreximbank and Ukrgasbank will provide standby letters of credit, each confirmed by DZ Bank. Global law firm, Norton Rose Fulbright, will provide advisory services.

Marsh will extend the new Unity facility to clients of Lloyd's of London registered brokers to provide financial support to humanitarian efforts, it said.

Marsh McLennan is the world's leading professional services firm in the areas of risk, strategy and people.