Insurance Agencies and the Danish Guarantee Fund
Have you taken out your insurance through an insurance agency? Here you can find an overview of how you are covered if the insurance company underwriting your policy goes bankrupt.
What is an insurance agency?
What is an insurance agency?
An insurance agency is not an insurance company, but an intermediary between insurance customers and insurance companies. An insurance agency sells insurance policies on behalf of an insurance company but does not bear the risk under the policy.
Therefore, you have not taken out your insurance with the insurance agency, but with the underlying insurance company.
Your policy/policy terms must state which insurance company is underwriting your insurance.
Please note that only non-life insurance companies certain life insurance companies authorised to carry on industrial injury insurance business can be members of the Danish Guarantee Fund.