Termination of Alandia/Nordic H&M agreement
The purpose of this mission being for Nordic to assist Alandia in the internationalisation of their portfolio through its extensive international broker network.
And for Alandia to provide Nordic with their recognised expertise in mainstream owner’s cover so as for Nordic to better outline the natural inter-connections between their niche delay cover and the mainstream covers.
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, the parties mutually agreed that as of 1.1.2021 it was open for all brokers, and at their discretion, to decide on whether to send a submission directly to Alandia, or channel it via Nordic.
One year has now passed since the parties opened up for all brokers to approach Alandia directly on international business. The system has again been jointly evaluated and one conclusion is that it has caused unnecessary communications problems to the day-to-day underwriting and claims’ operations, between the brokers on one side and Nordic/Alandia on the other side.
Considering the above, Nordic and Alandia are in agreement that as of 1 April 2022, all further communication relating to insurance policies written by Alandia through Nordic should be handled directly between the brokers and Alandia. However, brokers who wants to transfer the business directly to Alandia earlier are of course free to do so.