Nordic Broker helps companies secure insurance coverage in Ukraine

In the summer of 2023, corporate insurance broker Nordic Broker began hearing an increasingly frequent message: companies were unable to obtain insurance for operations in war-torn Ukraine.

Hans Kapp, Chairman of Nordic Broker, and Kai Hahl, Director of Ukraine Operations and Commercial Director, know the global insurance market inside out. To them, the claim simply did not add up. Insurance solutions are available when you know where to look and how to structure an appropriate insurance programme.

Kapp and Hahl decided that the insurance challenge had to be solved. They developed a plan and secured support for its implementation through Finnpartnership’s Business Partnership Support programme. Three years later, Nordic Broker has assisted hundreds of clients from more than 12 countries with insurance and risk management matters related to business operations and travel in Ukraine. In October 2026, the company opened a representative office in Kyiv.

So what kind of Insurance is available for Ukraine, and where can it be obtained?

– We are a network broker, connected with hundreds of broker companies around the world. Most of these companies are market leaders in their own geographical market. We cooperate with a majority of the worlds independent insurance brokers and represent them in Finland as they represent us in their home countries. We help with travel insurance for Ukraine, but the main thing is actually supplying property insurance, liability insurance and risk management services, Hans Kapp told EastCham.

The solution to insurance needs in Ukraine typically involves a combination of Ukrainian and international insurance coverage. Nordic Broker designs tailor-made insurance programmes that also utilize international specialty insurance markets, including the Lloyd’s market.

The solution to insurance needs in Ukraine typically involves a combination of Ukrainian and international insurance coverage.

For the insurance industry, risks in conflict zones and methods of risk-sharing are nothing new, and Ukraine is not the first crisis-affected market where business activities have been insured. International insurers are accustomed to assessing risks in different parts of the world and distributing those risks through the reinsurance market. Insurance is also a prerequisite for obtaining bank financing for investment projects in Ukraine.

The newly opened Kyiv representative office enhances Nordic Broker’s service capabilities in Ukraine. Initially, the office will have at least one employee.

– If you have any issue related to Ukraine, you can call someone who is on the ground there. We also have our local partners in the country, says Kai Hahl.

Everyday risk management

Insurance is ultimately about risk management, but risk management is not just about scenarios on paper. It is about practical day-to-day decisions.

– If you are going to build a factory in Ukraine, would you build it next to a missile factory? Is it good to put all your warehouses in one location? Should you have a hotel next to a military installation? Do you want to have a room high up in the building or low, closer to the shelter? We help companies to think practical matters in their operational activities, Kapp explains.

According to Kapp, it is sensible to consider war-related risks even outside Ukraine. War risk insurance is inexpensive during peacetime, but even in Finland bad luck can strike, and a stray drone could hit your factory. Cyber risks should also be taken into account.

– You don’t have to buy insurance, but you should make an informed decision not to buy it, Kapp notes.

A long history in the insurance industry

Nordic Broker was founded in 2020, but the history of its key people goes back much further. The three founders of the company, Hans Kapp, Mika Pyykkönen and Matti Lehtola, have worked together for many years, with Pyykkönen and Lehtola having collaborated since the late 1980s.

The company’s primary mission is to arrange insurance solutions for Finnish export companies. Its client base also includes many international companies entering the Finnish market. While the insurance sector includes brokers of many different types and profiles, Nordic Broker specializes in international business and advanced, tailor-made insurance solutions.

Today, Nordic Broker employs twelve people and operates three offices: in Helsinki, Kuopio and Kyiv. According to Kapp, one of the company’s key strengths is that, as a small team, it remains close to its clients and every call is answered by a real person. The experienced team knows exactly what needs to be written into an insurance policy.

“I wouldn’t say this is much harder than some other markets.”

Nordic Broker is also an active member of EastCham. According to Kapp and Hahl, EastCham’s events have provided an excellent environment for meeting companies, while the organization’s support and network played a crucial role in establishing the representative office in Kyiv.

For Finnish companies exploring opportunities in the Ukrainian market, Kapp and Hahl have straightforward advice.

– Go there. The way of doing business there is very much in person. No matter the insurance, you need to know who you’re doing business with, so that you don’t end up in a position where you’re working with somebody you really shouldn’t. And read your contracts, always read your contracts, Kapp emphasizes.

– I wouldn’t say this is much harder than some other markets. When you have decided what to do and you do it in a structured way, you don’t have to overanalyze it. Just do it, Hahl concludes.

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