Behavioural drivers of insurance perception under wartime uncertainty: Evidence from Ukraine

Amid the full-scale war in Ukraine, insurance plays a crucial role in financial security and economic resilience. However, consumer behavioural under extreme uncertainty, particularly trust, risk perception, and informational awareness, remains under-investigated. The study aimed to identify the factors shaping attitudes of individuals and legal entities, and to examine how informational awareness fosters trust and influences perceptions of market efficacy and accessibility under wartime conditions. The empirical analysis was based on a quantitative online survey conducted between May and June 2025 (N = 118). Data were processed using descriptive statistics, reliability analysis, principal component analysis with Varimax rotation, Spearman’s rank correlations, non-parametric significance tests, and multiple regression modelling. Two components were identified for individuals, explaining 55.4% of the variance, and three for legal entities, explaining 79.9%. These reflected similar dimensions: trust and perceived importance of insurance, market efficiency and accessibility, and informational awareness. Individual attitudes varied by age, education, residence, and employment: younger and economically active respondents showed lower trust and perceived accessibility, while informational awareness enhanced confidence and perceived market efficiency. Among legal entities, higher education correlated with more critical views of market performance, whereas smaller firms reported limited informational access. Across both groups, informational awareness consistently shaped positive attitudes, while low income, limited trust, and information deficits constrained engagement. The findings highlight the need for measures to strengthen trust, transparency, and financial inclusion in Ukraine’s insurance market