Residents and police inspect a fire damaged building following a blast at around 4am during Russian artillery strikes in Kyiv, Ukraine, on Friday, Feb. 25, 2022. (Credit: Erin Trieb/Bloomberg) Residents and police inspect a fire-damaged building following Russian artillery strikes in Kyiv, Ukraine, on Friday, Feb. 25, 2022. (Credit: Erin Trieb/Bloomberg)

The Russian attack on Ukraine has potential implications for the global insurance industry, and in some cases, for the U.S. insurance industry. In seeking just one word to explain these implications, that word would be "expensive."

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