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INSURANCE OVERVIEW

Three of seven lines fall short

Turnover

1.85bn kr.

Annual premium

4.82m kr.

Sums insured

1.17bn kr.

LINEINSURERLIMITRENEWS

Property and BI

Allianz940m1 Jan

Product liability

Chubb50m1 Jan

General liability

Chubb25m1 Jan

Cyber

Beazley40m1 Mar

Marine cargo

Allianz12m1 Mar

D and O

AIG100m1 Jun

Group pension

Evergreen Pensionn/aRolling

Three lines need attention, marked in red. The premium is 0.26% of turnover against a sector band of 0.30 to 0.45, which usually means the limits are thin rather than that you are buying well.

Source: 11 policy documentsUpdated 8 Sept

POLICY PLACEMENT

490,000 kr. under the next best

Four markets approached in January. Two quoted the full programme.

Allianz and Chubb

PLACED4.82m kr.

Placed as one programme

Zurich

5.31m kr.

No appetite for the Poznan site

AXA XL

5.64m kr.

Declined product liability

Sompo

No quote

Outside their industrial appetite

Next round opens in October

Source: 4 market submissionsPlaced 1 Jan

GAP ANALYSIS AND Q&A

Two contracts require cover you lack

NOW

Raise product liability to 100m kr.

Required by two customer contracts

Approve

THIS WEEK

Add the Poznan site to the property programme

Acquired in March, never notified

Approve

AT RENEWAL

Lift the cyber business interruption sublimit

Capped at 5m inside a 40m tower

Approve

What happens if we ship to the US under the current wording?

Nothing is excluded. The limit is the problem: US claims settle in dollars, and the 50m cap converts to roughly 7.1m USD.

Supply agreement, cl. 12.4Policy wording, s. 4.2

Source: 11 policies, 4 customer contracts3 open

CLAIM 2026-1184, MACHINERY BREAKDOWN, VEJLE

Nobody had to report this one

Reported

Documented

Adjusted

Settled

Reported2 September, automatically

Reserve1.4m kr.

DocumentationFiled by Vera, 4 September

InsurerLoss adjuster on site 11 September

HANDLED WITHOUT YOU

Notified the insurer within four minutes

Pulled the maintenance log from your drive

Drafted the loss narrative for sign-off

Source: insurer portal, adjuster reportOpen 6 days

RISK MANAGEMENT

Two lines below your own limit

Cover as a share of the exposure we have valued. The marker is the level your own risk policy sets.

Property

94%

Product liability

52%

General liability

81%

Cyber

44%

Marine cargo

78%

Business interruption

24%

INSURED VALUES AGAINST LIMITS

27 projected

Insured values are up 88% since 2021. The limits have moved once. On this trend you are underinsured by next renewal.

COMPLIANCE

Locally admitted cover, Poland

Missing

Contract limits, two customers

Below

NIS2, in scope from Q1

Not assessed

Working environment file

In order

Source: 214,880 data pointsRecalculated hourly

PENSION SERVICE

128 on the terms of a company you bought

128 employees are still on the terms they had before the acquisition

SchemeEvergreen Pension, group agreement

Enrolled612 of 740 employees

On legacy terms128 from the Vejle acquisition

Last full review2023

Source: scheme data, 740 recordsUpdated 8 Sept

Vera

opening your agreements

Your two largest supply contracts require 100m kr. in product liability. The policy caps at 50m.

Contract terms against policy wording

And the Poznan site you acquired in March is not on the property programme.

Notified to no insurer

The new lease in Aarhus was signed on Friday. It is not on the programme either.

Found while you were reading

Both gaps close with an endorsement. The real money is the renewal: five lines fall inside ten weeks.

Drafted from your policy wordings

Tender.pdf

Approve tender

Message Vera

Opdateringer