KYIV, Feb 16 – Ukrainian insurers see no reason for panic, sudden movements in pricing policy or approaches to insurance in connection with the inclusion of the waters of the Black and Azov Seas adjacent to Ukraine and Russia in the list of high-risk areas, Andriy Semchenko, Chief Underwriting Officer at INGO Ukraine, said.

"At the moment, no maritime incidents have been recorded, but their possibility is obvious, therefore, for security reasons, the committee issued a requirement to notify underwriters about transportation in this area. We will observe how this will affect cargo transportation in the near future. We see no reason for panic and sudden movements in pricing policy or approaches to insurance," he commented on the relevant decision of the London Joint War Committee (JWC) regarding these areas.