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Marketplace Ozon and insurer Ingosstrakh have announced the termination of their seller goods insurance program. Effective October 13, 2026, the insurance option will be removed from seller dashboards. This material is for informational purposes and provides an analysis based on actuarial science and risk assessment methods.
The decision is driven by shifts in the reinsurance market. On October 1, the Russian National Reinsurance Company (RNPC) adjusted its terms for covering terrorism and sabotage (T&S) risks. These changes significantly contracted available reinsurance capacity, impacting the ability to provide necessary coverage for the seller program.
Historically, Ozon increased insurance premiums in July due to rising drone-related risks. Following drone strikes in September, Ingosstrakh paid 8.2 billion rubles to 90,000 affected sellers. Inventory assessments at logistics centers are currently nearing completion, and both companies have confirmed that all obligations under existing policies will be fully honored. Any incidents occurring before October 13 will still be processed as insurance claims.
From an actuarial perspective, this case illustrates a capacity crunch resulting from systemic risk realization. When the frequency and severity of drone-related losses exceed the predictive capabilities of standard underwriting models, reinsurance protection becomes the limiting factor. Discontinuing the program reflects a shift in risk profile that no longer aligns with risk appetite under current reinsurance constraints. The Central Bank of Russia's recent 165 billion ruble recapitalization of RNPC highlights the broader challenge of maintaining market systemic stability.
Actuarial Conclusion: The contraction of reinsurance capacity for T&S risks forces insurers to re-evaluate portfolios. For marketplaces, this necessitates exploring alternative financial protection tools, such as parametric solutions or internal self-insurance funds.
Source: Interfax, 2026-10-09. Also reported by: Finansy Mail.
VIP Quotes & Public Reactions
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Insurance policies will continue to operate until 23:59 Moscow time on October 12, and starting from October 13, they will be disabled in the sellers' personal accounts.
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