By a decree issued by the Maritime and Commercial Court in Copenhagen on 7 June 2021, Gefion Finans A/S under voluntary liquidation filed for bankruptcy. In that connection, the Court of Appeal appointed Attorney Boris Frederiksen from Kammeradvokaten/ Poul Schmith and Søren Aamann Jensen, Accura as insolvency administrators
The Guarantee Funds role and responsibility
The Danish Guarantee Fund (The Fund) will only be covering Gefion’s insurance contracts in Denmark for risks in Denmark. This means, that non-life insurance agreements must have been entered into in Denmark for coverage of risks in Denmark.
The Fund will cover claims for the following:
· Policy holders with private insurance (consumer insurance) and the insured
· Third parties insured against personal injuries or property damage under motor liability insurance
· Third parties protected from personal injuries according to other liability insurance
· Collective insurance to the extent that an insurance policy of its kind corresponds to the covered individual insurance policies
· Claims regarding building fire on all types of real estate, and from 1 of January 2019 also
· Change of ownership Insurance, structural warranty insurances “new build” and property sellers’ liability insurance for the full term of the insurance contract.
The Fund will cover eligible claims for damages incurred in the period up to the bankruptcy and no later than four weeks after the bankruptcy trustee has given notice to of the bankruptcy in Gefion to the claimants.
What to do as a policyholder at Gefion?
You must take out new insurance as soon as possible, so you are insured in the future. Claims already reported to Gefion will be handled and policyholders do not need to do anymore.
Claims not yet reported must be reported in accordance with the procedure described in your insurance policy. Be aware of the fact that claims must be reported no later than 6 months after the bankruptcy decree was issued.
All policyholders in Gefion will in the nearest future receive a letter from the trustee, which explains in more detail how to behave as a policyholder.
Get updates on the bankruptcy in Gefion Finans A / S (formerly Gefion Insurance A/S) at www.gefioninsurance.com and www.finanstilsynet.dk
