Mykolaiv Will Spend 1.3 Million on Insurance for the Supervisory Board

The Executive Committee of the Mykolaiv City Council adopted a resolution instructing the municipal enterprise “Mykolaivvodokanal” to obtain liability insurance for the members of the company’s supervisory board.

The corresponding draft resolution was approved at the Executive Committee meeting on June 24.

As noted in the document, the insurance will be funded by the enterprise itself in accordance with the requirements of current legislation. The necessity of this step is justified by the provisions of the Charter of the municipal enterprise “Mykolaivvodokanal,” as well as by the established practice in Ukraine regarding liability insurance for members of supervisory boards of municipal enterprises.

During the executive committee meeting, the company’s director, Boris Dudenko, explained that this involves liability insurance for members of the supervisory board in the event they make decisions that could result in losses for the company. According to him, this practice is common among companies with supervisory boards.

He also noted that the initial cost of the insurance was estimated at nearly one million hryvnias per supervisory board member, but after negotiations, a significantly cheaper option was found. According to the company’s director, the estimated total cost of the insurance will be approximately 1.3 million hryvnias per year.

Officials state that having such insurance is one of the conditions for the effective operation of an independent supervisory board and is in line with modern corporate governance practices for municipal enterprises.

Earlier, the Mykolaiv municipal utility “Mykolaivvodokanal” announced a tender to procure the services of a debt collection agency to handle debtors for water supply and wastewater services. The expected cost of the procurement is 1.24 million hryvnias.

In addition,“Mykolaivvodokanal” announced and concluded dozens of procurement contracts worth hundreds of millions of hryvnias throughout 2026. The enterprise spent the most funds on electricity, fuel, network repairs, and ensuring the operation of water supply and wastewater disposal systems.

As a reminder,employees ofthe municipal utility “Mykolaivvodokanal” appealed toMayor Oleksandr Senkevych, demanding the dismissal of Director Hennadiy Izyumov. 

Андрій Колісніченко