Information to all claimants and policyholders in Ireland
On 10 January 2019, the bankruptcy estate commenced the distribution of information notices, to all policyholders and claimants in Ireland of Qudos Insurance A/S in bankruptcy.
The information notice contains information on the termination of insurance policies, the Garantifonden for Skadesforsikringsselskaber (Danish Guarantee Fund), including the coverage provided by the guarantee fund, deadlines and the procedure to lodge claims, information regarding the reporting of claims to the bankruptcy estate and the procedure for reporting new claims.
The trustee has asked the agents and claims handlers in Ireland to issue the letter on behalf of the trustee. The information notice is prepared in your own language.
“Click here” to see the information notice to all policyholders and claimants in Ireland.
Termination of the insurance policies
Due to the bankruptcy, certain rights under your insurance policy and your insurance cover have changed.
All questions concerning existing insurance contracts are governed by the Danish Insurance Contract Act.
This entails that all existing insurance policies will terminate automatically three months after the notice of the bankruptcy decree in the Danish Official Gazette. The bankruptcy decree has been noticed the 28 December 2018. Therefore, all insurances will terminate/end automatically after the expiry of the 28 March 2019.
Please be aware of that your insurance is valid until the expiry of the 28 March 2019.
Insurance policies that expire naturally before cannot be renewed, and any auto-renewal provisions have no effect. Furthermore, no adjustments in the coverage of the insurance can be made, e.g. increasing of risk.
All insurances in Qudos Insurance A/S will terminate automatically three months after the notice of the bankruptcy decree, i.e. after the expiry of the 28 March 2019. Therefore, all insurance policies will be valid until the 28 March 2019.
In a number of cases, you may receive return premium and compensation for claims, if any, under a national guarantee fund or the Danish Guarantee Fund. Please be aware of that certain guarantee funds only provide compensation for claims in a limited period.
The bankruptcy estate is currently in contact with the Danish Guarantee Fund about the further claims handling. For further information about the coverage of the Danish Guarantee Fund, go to the site “The Danish Guarantee Fund”.
Furthermore, the bankruptcy estate is aware of other local guarantee funds. The bankruptcy estate has not been in contact with any national guarantee funds yet. We will update the website immediately, when we have been in contact with those guarantee funds