Gefion Insurance – Notice to Policyholders
June 24th 2020
This page is intended to provide on-going information to provide information to clients who have a policy covered by Gefion Insurance. This also includes other Insurance brands where Gefion is the underlying insurance company. This will include some policies provided by Pukka Insurance and Octane Underwriting.
Please see the chart below showing the current position of the company
If you are a policyholder and have concern, feel free to call us to discuss the position.
We offer a range of policies provided by over 30 insurers, providing quality cover, low premiums and efficient claims service.
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1. Who is Gefion Insurance and what has happened?
Gefion Insurance is an insurance company registered in Denmark and authorised to write business within EU through agents and brokers. On 24 June 2020, the Danish Financial Supervisory Authority withdrew the license as an insurance company.
Gefion Insurance is now in run-off. Gefion Insurance continues to operate such that existing policies continue to remain in force.
Gefion Insurance is now in run-off. Gefion Insurance continues to operate such that existing policies continue to remain in force.
2. Is my insurance policy valid?
Gefion Insurance continues to operate such that existing policies continue to remain in force, until the policy is lapsed or cancelled.
However, there can be no changes to the policy terms from 26 June 2020 and the insurance policy will not be renewed upon expiry.
However, there can be no changes to the policy terms from 26 June 2020 and the insurance policy will not be renewed upon expiry.
3. I have an outstanding claim, what should I do?
All claims should continue to be submitted to Action 365 Ltd in the normal way.
4. Will my claim still be paid out?
Gefion Insurance advises it has sufficient assets to meet its claims liabilities and claims will continue to be paid. All valid existing claims will be paid but there may be a slight delay in the claims payments whilst the liquidator is formally appointed
5. I need to make an adjustment to my policy, can I still do this?
6. For policies that are monthly instalments how long is my policy still in force (i.e. does the next instalment count as new business?)
Monthly instalments does not constitute monthly renewal. The duration period of the policy can be found in the policy documentation.
7. What is my situation if Gefion Insurance goes bankrupt?
In the event of bankruptcy, the Financial Services Compensation Scheme will become enacted – details can be found here:
www.fscs.org.uk
www.fscs.org.uk
8. Can I cancel my policy?
You may cancel your policy in accordance with the terms and conditions of your insurance policy. Your policy conditions remain unchanged.
9. How do I get further information?
Links:
Gefion Insurance
Gefion
dfsa.dk
Insurance
City Insurance Group
88-89 High St
Winchester
Hampshire
SO23 9AP
Tel: 01962 844848
E-Mail: info@cityinsurance.co.uk
Car - 0345 017 9795 
Van - 0345 017 9792
Motorbike - 0345 017 9795
Home - 0333 0151509
Let Property - 0333 0151508
Business - 0333 0151507
Travel - 0333 0151516City Insurance Group
88-89 High St
Winchester
Hampshire
SO23 9AP
Tel: 01962 844848
E-Mail: info@cityinsurance.co.uk
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City Insurance Group is a trading style of City Broking Ltd (No 7184645) Registered in England and Wales. Registered Office:
88/89 High Street, Winchester. SO23 9AP England. Authorised and Regulated by the Financial Conduct Authority (No 520574)