Annual reports and interim reports
All policyholders must submit annual reports and interim reports as soon as they are adopted.
Information regarding changes
There is a duty to provide information to PRI Pensionsgaranti when significant changes take place in the company, since review of the credit insurance agreement may be necessary. Examples of such changes are:
- Closure and divestment of businesses
- Change in ownership in the company or in the corporate group of which the company is a member
- Merger and transfer of business.
- In connection with mergers and the transfers of businesses, the liability is customarily assumed for pension commitments. In the event the acquiring company does not have credit insurance, the company must apply for such insurance. In addition, in connection with the sale of a business, the persons entitled to a pension must grant their consent. In the event the number of persons entitled to a pension is large, the County Administrative Board may decide that such consent need not be obtained.
The members - the credit-insured companies - of PRI Pensionsgaranti have mutual liability. The liability amounts to two per cent of the company’s pension liability and must be reported in a note regarding contingent liabilities in the company’s annual report.