What implications does the transfer of insurance contracts have for you as a policyholder/claimant?Below, you will find answers to the FAQs.
- What is understood by a portfolio transfer?
- Who is DARAG AG?
- What will happen with my current claim?
- Who is my contact partner?
- Who will be my contact partner for matters relating to data privacy?
- What do I need to do now?
In the event of a portfolio transfer pursuant to Section 13 of the Insurance Supervision Act (Versicherungsaufsichtsgesetz – VAG), policyholders have a new contractual partner, although the contract itself remains unchanged. The transfer is subject to approval by the responsible insurance supervisory authority, which ensures that the interests of policyholders are fully safeguarded and only grants its approval if there is sufficient evidence that the obligations under the insurance contracts can be fulfilled at all times.
Approval by the insurance supervisory authority replaces the consent of the consumer concerned. Following the transfer of the portfolio, all rights and obligations of SOVAG under the insurance contracts in relation to the policyholders are also transferred to the new insurer (in this case DARAG AG). There are no disadvantages for you.
DARAG Deutsche Versicherungs- und Rückversicherungs-AG is a German primary insurer and reinsurer regulated by the German Federal Financial Supervisory Authority (BaFin). DARAG AG acquires insurance portfolios from other insurance carriers and ensures that outstanding claims are dealt with at the highest level, while safeguarding the interests of policyholders.
DARAG AG is part of the DARAG Group of insurers based in Malta. You can find more information on the DARAG AG website under www.darag-group.com.
To manage the very different and specific claims in respect of the assumed reinsurance business, DARAG AG works with specialist service partners. Operational processing of SOVAG’s insurance business has been entrusted to the service partner Van Ameyde Services GmbH.Van Ameyde will process any current and future claims you may have and from now on is your direct point of contact for any questions regarding your insurance contracts.
Van Ameyde Services GmbH
Hohes Gestade 11
Phone: +49 7022 21 827-49
Fax: +49 7022 21 827- 899