Changed legislation for Europeiska ERVs parent company

Europeiska ERV is a Swedish branch of the Danish insurance company Europæiske Rejseforsikring A/S. The Danish Parliament recently decided that the so-called Garantifoden (the Guarantee Fund ) - which protects private customers if a Danish insurance company should become bankrupt - will only cover people that permanently resides in Denmark as of January 1, 2019.

What does this descision mean for me as a customer of Europeiska ERV?

There is no equivalent to the Guarantee Fund in Sweden. Thus, as the law enters into force, you as a policyholder will have the same protection as any other customers of other Swedish insurance companies. The Guarantee Fund only meant that you received a additional protection. That is to say; a protection that had not existed in the first place had we not been a branch of a Danish company.
 
The amendment of the law does not affect your insurance or your insurance coverage. After the amendment comes into force on January 1, 2019, you will have the same protection as before
 

Q&A

  • Why are you informing about this?
    Although this change does not affect your insurance coverage - nor the protection of your and our other customers' paid premiums - we are required under Danish law to inform you of this change of law.
  • Will I be affected by this change?
    All Europeiska ERVs private customers are subject to the change. Since no equivalent to the Guarantee Fund is available in Sweden, our customers will have the same protection as the customers of other insurance companies in the Swedish market - even after the change in the Danish Guarantee Fund enters into force.
  • Is there a risk of banktruptcy?
    No. Europeiska ERV is a company with stable economy. We comply with the laws governing insurance business and those laws require us to set aside money in case of banktruptcy. So we will be able to pay the compensation that our customers are entitled to regardless of what happens.
  • Do I have any protection if you would go bankrupt nevertheless?
    Yes, you have the same protection as all customers of Swedish insurance companies. The Guarantee Fund only meant a further protection that had not been applicable to begin with if we had not been a branch to Denmark.
  • Why does this affect Europeiska ERV that is a business based in Sweden?
    Europeiska ERV is a Swedish branch of a Danish insurance company. Swedish law applies to our agreements with you as a Swedish customer and we pay tax in Sweden. However, we are supervised by the Danish Financial Supervisory Authority, which is the Danish equivalent of the Swedish Financial Supervisory Authority, and we are also affected by Danish laws.
  • Will my insurance with Europeiska ERV be affected by this change?
    No. Your insurance is not affected at all.
  • What do I do if I have questions about this?
    If you have any questions, please feel free to call us at 0770 456 900. Our customer service is open every weekday between kl. 09.00 - 16.00.