As you will no doubt be aware, Qudos Insurance A/S was declared bankrupt on the 20th December 2018. As you will no doubt be aware, Qudos Insurance A/S was declared bankrupt on the 20th December 2018.
First Ireland worked hard on our Client’s behalf and arranged alternative cover for our valued clients by placing the affected policies with alternative providers immediately.
Standard light commercial vehicles were insured with RSA, one of the world’s leading A rated insurance companies and Non-standard commercial vehicles, Cars, Fleets, Standard Haulage and household policies are now placed with Gefion Insurance A/S.
But what about Clients that had already had an accident or loss? On the 1st of January 2019 a change in Danish law took effect which meant that the liabilities for outstanding claims would have been passed to the Irish Compensation Fund. As Qudos entered bankruptcy prior to this date it meant that qualifying Irish consumers may apply to the Danish Guarantee Fund for compensation.
This was welcome news as the levels of compensation for qualifying policyholders offered by the Danish Guarantee Fund substantially exceed those available from the equivalent Irish scheme. Also through this action Irish consumers have avoided the costs of such claims and the need for additional premium levies to be applied.
As a Policy condition a Client must always inform their Insurer or Broker of any circumstances that are likely to give rise to a claim so for those that have had a loss or accident and are qualified they may have already applied to the Danish Guarantee Fund for compensation.
What about Clients that did not think it necessary to report a claim? All claims involving a private individual as opposed to a commercial entity are being directed to the Danish Compensation Fund (DCF) who have confirmed that the deadline for submitting claims to them is the 20/06/2019.
In order to ensure that all claims are reported to the DCF, we urge you to report any incident regardless of whether they result in an actual claim to your Insurer/Broker as a matter of urgency, to ensure that the incident is reported to the DCF.
If you need to report an unreported incident to First Ireland, please email firstname.lastname@example.org or phone 01 8820800 before 20/6/2019.