Distribution of H&M insurance to Alandia
Alandia Försäkring Abp (Alandia) and Nordic Marine Insurance (Nordic) have been cooperating on a number of products and projects, for a number of years.
Particularly since 2017, Alandia and Nordic have cooperated in the distribution of Hull & Machinery and Loss of Hire primarily in the European market, excluding the Nordic countries and the Baltic States, both of which have always been handled directly by Alandia.
Nordic represents Alandia in the international market and has serviced and managed the submissions from non-Nordic brokers (screening, analysis, day to day management, claims handling, etc). A fruitful and smooth cooperation has produced good results for both parties.
However, as both Alandia and Nordic are focusing on the optimization and further development of their resources to provide a yet more flexible and efficient service to the market, we have mutually decided that from 1.1.2021 we shall leave it to each broker’s discretion to decide on whether to send a submission directly to Alandia, or channel it via Nordic.
Our cooperation will continue unchanged in all other respects. Risk assessment, pricing and underwriting guidelines will remain identical, irrespective of which communication channel is used, whereas day-to-day management and claims handling will be managed by each respective party.