Compliance at ERV nordics

The Compliance Management System at ERV Nordic pursues several objectives: 

• To ensure compliance with various laws and regulations, as well as internal rules relevant to our business.
• To avoid risks related to liability, prosecution, and the company's reputation, including governing bodies (e.g., management, board) and employees
• To protect customers' interests in accordance with the high standards we set for ourselves.

The ERGO Group's Compliance Management System is managed by the local Compliance function (Kristoffer Sandvad Myralf and Elena Hirsbro). The Compliance function reports directly to the management of ERV Nordic and indirectly to the board of ERV Nordic and ERGO Compliance.

For Compliance in ERV Nordic in Danish, find it here >

Munich RE Code of Conduct

The Munich RE Code of Conduct applies to all employees, managers, members of the board of management and the board of directors of ERV Nordic, providing guidance on the behavior and ethical principles that form the foundation of how we conduct our business and what is expected of employees.

Read more here >

Whistleblowing Portal 

ERV Nordic has a whistleblowing portal where violations of local legal requirements or the principles set out in Munich Re Code of Conduct can be reported.

If you become aware of a violation of the law or a significant breach of the Munich Re Code of Conduct, you can report it here.

You can also do so completely anonymously. In that case, please follow the security instructions in the Whistleblowing Portal, BKMS.

Whistleblowing Portal >

Compliance Management System

The scope of responsibilities for ERV Nordic's Compliance function includes systematic compliance risk analysis, continuous improvement of the company's compliance with applicable rules, training, advising colleagues, and identifying any violations.

The tasks of the ERV Nordic Compliance function include:

1. Risk Assessment: Systematic identification and analysis of relevant compliance risks.
2. Early Warning: Defining and continuously improving compliance with rules and standards (internal governance documents).
3. Advisory: Providing information, training, and advice to board members, management, and staff.
4. Monitoring: Monitoring compliance with legal requirements and identifying breaches.

ERV Nordic’s Compliance function performs these tasks on behalf of Europæiske Rejseforsikring A/S, including our Nordic branches. Additionally, the ERV Nordic Compliance function maintains close contact with the Compliance team at our parent company, ERGO Group AG.

Risk Assessment

The core of the Compliance Management System is a systematic compliance risk assessment, and the results form the basis for activities within ERV Nordic’s Compliance function.  

Early Warning

Compliance with laws and regulations in Denmark, Norway, and Sweden is mandatory for all employees, as is adherence to company standards. In this way, ERV Nordic minimizes the risk of future financial and/or reputational issues.

One of the most important rules is the Munich RE Code of Conduct, which sets the requirements for ethical behavior of all employees, managers, board members, and the executive board of ERV Nordic.

Furthermore, ERV Nordic has other internal rules to describing the ethical guidelines we aim to abide by, such as the Guideline on Conflict of Interests and Incentives, which establishes rules for offering, planning, purchasing, and arranging incentives for internal staff and sales forces.

ERGO Group AG continuously works to develop minimum standards to be implemented locally in accordance with local legislation.

All norms applicable to ERV Nordic are regularly reviewed, updated as necessary, and made available to all employees.

Advisory 

Information, Training, and Guidance  

Regular communication on compliance topics is an essential part of our Compliance Management System, increasing employee awareness and strengthening the culture of compliance within the organization. This is achieved through various internal methods.

Regular training sessions help to achieve a standardized common understanding. Participation is mandatory for employees, managers, and executive board members.

Training includes online modules as well as face-to-face sessions where the ERV Nordic Compliance Function directly informs staff or members of the board and management.  

Monitoring

Identifying and Handling Violations  

Violations of legal provisions, Munich RE Code of Conduct rules, or internal norms are not tolerated at ERV Nordic. Each incident is assessed individually and sanctioned according to the extent of the violation. It is also checked whether norms or company processes need to be changed.

Violations are identified in various ways. Besides regular inquiries from internal staff, ERV Nordic employees who wish to report legal or other serious breaches can contact the ERV Nordic Compliance function or ERGO Compliance confidentially.

Employees who do not wish to contact ERV Nordic's Compliance function or ERGO Compliance directly can contact an independent external ombudsman, who is also obligated to handle any inquiries with strict confidentiality.

At ERV Nordic, both the company as a whole, but also it’s employees, board of management, and the board of directors are committed to compliance with both internal and external requirements, making this a constant focus area for all at ERV Nordic.