It was announced in May last year, that under the EU Regulation 2019/1935, insured amounts for professional indemnity insurance for insurance brokers should be increased.
Recently it was announced that the increase would be applicable as per 12th June 2020.
What does this mean for policies in the Netherlands?
Any policy that provides coverage for insurance brokers must have at least the following insured amounts: € 1,300,380 per claim and € 1,924,560 a year.
For those policies covered by HDI Global Specialty SE that do not yet have the new minimum required insured amount, we will issue a new policy appendix in the coming weeks. We will not charge an extra premium for this adjustment.
Understandably, we do not expect all policies to be processed before the 12th June. However, we expect that you will receive the new policy for yourself or your customer before the 1st September 2020.
If you have any questions, please do not hesitate to contact us by e-mail at email@example.com.