Update 8th June to all policyholders and claimants
Claims handling and payments
We have asked all claims handlers to continue claims handling and confirmed that they are authorized to do so. To our knowledge claims handlers are handling claims and want to help with the best possible run-off for all parties.
This means that all claims handling is still with your normal claims handler and that all filing of claims etc. should still be with your claims handler, as stipulated in your policy.
We are working as fast as possible to make it possible for the claims handlers to start payment of damages Again, on claims covered by a guarantee fund. We highly appreciate the patience and understanding being shown towards both the estate and the claims handlers while we réestablish the ways to make payments on damages covered by a guarantee fund.
Time span of cover under the scheme of the Danish Guarantee Fund and termination of policies
Inside the EU and EEC the Danish Guarantee Fund will cover claims reported by the following:
- Policyholders with private insurances (typically consumer insurances such as third-party motor liability insurance, home and personal protection insurance, houseowner’s insurance, second home insurance, accident insurance or similar private insurances)
- third parties insured against personal injury or damage to property under motor liability policies (regardless of whether they have been taken out for commercial purposes)
- third parties insured against personal injury under any other third-party policies (regardless of whether they have been taken out for commercial purposes)
- policyholders and those insured under collective Insurances, to the extent that an insurance corresponds to the individual insurances covered
- policyholders with property fire Insurances, regardless of the type of property and class of policyholders, (the purpose of this provision is to ensure indemnification of creditors with a recorded real-property mortgage in case of fire on property on which they hold a mortgage. Therefore, coverage of damage caused by fire is not limited to consumer insurance, i.e. one- or two-family houses or second homes, as the Fund also covers fire damage to commercial properties etc.).
The Danish Guarantee Fund will cover claims filed before the date of the bankruptcy 8th May 2018 and damages due to incidents that occur on or after the 8th May and until 4 weeks from the circulation of a notification from the liquidator. The notification has not yet been sent, thus the 4 weeks has not begun yet and damages due to new incidents are still covered under the scheme of the Danish Guarantee Fund. We will advise when the notification has been circulated in different jurisdictions.
According to the Danish Insurance Contracts Act, your policy will terminate 3 months after the information in the Danish National Gazette. I.e. the policies terminate by the 11th August 2018. Note that the Danish Guarantee Fund will not cover new incidents until the 11th August but only new incidents until 4 weeks from the circulation of the notification from the liquidator.
Outside of the EU and EEC the Danish Guarantee Fund will not provide cover. The date of termination, according to the Danish Insurance Contracts Act, will still be the 11th August 2018.
At this time it is not possible to say if and when the Alpha Insurance A/S in bankruptcy will be able to pay out on claims not covered by the Danish Guarantee Fund or another guarantee fund, if applicable.
Cover by FSCS
We will update the webpage with information concerning cover in the UK under the FSCS as soon as possible and in co-operation with the FSCS.
An online claims form for return premium is under development and will soon be available on the webpage.