This information was published in the Prozorro electronic procurement system.
Coverage Details and Limits
According to the contract terms, the annual insurance sum amounts to 126.03 million UAH, with the insurance tariff set at 1.89%. The policy provides a wide range of reimbursements for legal or reputational risks faced by the management:
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Defense and Precautionary Measures: Legal defense costs, as well as expenses related to bail, extradition, or restrictions on asset rights, are reimbursed at 10% of the total sum (but not exceeding 500,000 UAH per individual insurance case).
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Reputation and Psychological Assistance: A limit of 50,000 UAH is set for reputation restoration, fines, and necessary psychological support.
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Daily Expenses: In case a vehicle replacement is needed within an insurance event, a reimbursement of up to 10,000 UAH is provided.
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Urgent Expenses: The limit for such cases is 10% of the insurance sum.
Geography and Legal Restrictions
Coverage applies worldwide; however, the contract includes several exceptions. The insurance does not extend to the territories of the USA or Canada. Additionally, the policy does not cover the temporarily occupied territories of Ukraine, including the AR Crimea, parts of the Donetsk and Luhansk regions, and other non-government-controlled areas.
The procurement was conducted through a direct award procedure without bidding. This became possible after the previous open tender was canceled due to a lack of participants.
Personnel Changes at Ukrhydroenergo
Currently, Bohdan Sukhetskyi is serving as the Acting CEO of the company. It is worth noting that the selection process for candidates for the permanent CEO position officially began in December 2025.
The Supervisory Board of the PJSC is chaired by independent member Valentyn Gvozdiy. The board also includes:
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Independent members: Stephen Walsh, Nataliia Mykolska, and Oleh Terletskyi.
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State representatives: Vasyl Shkurakov and Vitalii Kushnirov.
About the Insurer: Canadian Roots and Luxembourg Capital
The tender winner, PJSC Colonnade Ukraine Insurance Company, is owned by the Luxembourg company "SCP Luxembourg SA RL." The ultimate beneficiary of the insurer is the prominent Canadian businessman V. Prem Watsa, who also chairs Fairfax Financial Holdings.
According to the YouControl system, the company is part of the powerful non-banking financial group "Fairfax," which is also represented in Ukraine by the brands ARX and Universalna. Since 2019, Colonnade Ukraine has secured government contracts totaling over 67 million UAH.
