Denmark: Insurance business anticipates higher premiums

Article Abstract:

Insurance companies in Denmark are awaiting the repercussions of the World Trade Center terror attack in the USA. About half of Danish businesses are to have their insurance policies renewed as from the start of 2002 and insurance companies find it difficult to determine what to charge their corporate clients for their insurance. The companies are discussing with their re-insurance companies in order to find a suitable level for premiums. Some re-insurance companies say premiums will have to be raised by up to 100%. TrygBaltica's ceo Peter Falkenham rejects 100% increases saying that the damages they have seen do not justify such premium increases.

Market information - general

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Denmark: Reassurance to soar on terror attack

Article Abstract:

No one can predict the consequences of yesterday's terror attack, but it is going to cost insurance and reinsurance companies huge sums. Danish insurance companies are also expected to be affected by next year. According to Soren Lindbo, director of the Danish division of AON, premiums are expected to go up, since reassurance already is under pressure. The upcoming days and perhaps weeks is expected to be chaotic and customers are asked to be patient with the insurance companies.

Insurance, Insurance Carriers and Related Activities

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