Summary
This technical report presents an analysis of the insurance market in Denmark for the year 2024, highlighting the challenges faced by large companies while noting the improved conditions for small and medium-sized enterprises. The report outlines the complexities introduced by new caps on sums insured, increased co-insurance requirements, and stricter documentation demands. It explains that recent catastrophic events have led to insurance companies becoming more cautious, resulting in changes to coverage terms and the introduction of loss limits. The report details how larger companies may face underinsurance risks if their coverage does not meet actual exposure levels. Additionally, it discusses the trend of insurers sharing risks among multiple companies to achieve comprehensive coverage. The report also notes that smaller firms are experiencing heightened competition and favorable terms due to their lower risk profiles. Furthermore, it emphasizes the necessity for accurate risk information from all companies to secure insurance coverage.
