In Denmark it is DFIM (Dansk Forening for international motorkøretøjsforsikring), who is responsible for the European corporation.
General Agreement, KPIs and Audits
Each year DFIM conduct an audit in order to check if all files are handle according to the Internal Regulations. The audit is made as an on-site inspection, where they, together with the correspondent, look in the claims management system, where they monitor up to 10 cases. They look in the files to make sure that everything is handled according to the Internal Regulations and inline with GDPR. The DFIM examines open and archived cases, the processing of personal data, internal procedures, payment procedures (if correspondents pay too late), solvency and the correspondent agreements. If the audit is not successful for the correspondent, the DFIM will withdraw the authorization as a correspondent.
In order to honor the Internal Regulations and its obligations, it’s imperative that the principal (insurance company) of the correspondent knows the rules in Denmark.
It is a requirement that all claims handlers who are working with Green Card files have read the Internal Regulations, and they must all sign a document stating that they have done so. This is of course also checked in the yearly audit.
This is a procedure which we expect is echoed throughout Europe.