Proceedings of the International scientific and practical conference ― Education and Scientific Progress‖ (February 13-15, 2026) / Publisher website: www.naukainfo.com. - Manchester, United Kingdom, 2026. - 206 p.

21 Table 1. Classification of risks for insurers related to power outages Group of risks Risks Underwriting and Insurance Risks Increased frequency and severity of property damage claims Growth of business interruption claims Accumulation risk (multiple simultaneous claims from the same event) Inadequate pricing due to lack of historical data Higher exposure to systemic and correlated risks Financial Risks Deterioration of loss ratios Insufficient technical reserves Liquidity pressure due to simultaneously large payouts Increased reinsurance costs Volatility of investment income Operational Risks Disruption of IT systems and digital infrastructure Interruptions in claims processing and customer service Data loss or cybersecurity vulnerabilities during system failures Increased administrative and backup energy costs Strategic Risks Reduced demand for certain insurance products Growth of uninsured losses in the economy Regulatory pressure to expand coverage Reputational risk due to delays in claims settlement Systemic and Macroeconomic Risks Prolonged economic slowdown Decline in solvency of policyholders Increased probability of insolvency among insurers Interconnection with other crisis factors (war risks, infrastructure damage, supply chain disruption) In conclusion, large-scale power outages represent not only a temporary operational disruption but a systemic risk factor that significantly transforms the functioning of Ukraine’s insurance market. They increase claim volatility, complicate actuarial forecasting and intensify financial and liquidity pressures on insurers. At the same time, these conditions expose structural weaknesses in risk assessment models and highlight the need to incorporate infrastructure-related and correlated risks into underwriting and pricing strategies. At a strategic level, the experience of prolonged energy instability may serve as a catalyst for institutional modernization within the insurance sector. Strengthening reinsurance protection, enhancing stress-testing practices, digital resilience and