Despite continued increases in the market for workers' compensation insurance, UFDS keeps the premium for 2026 at the same level as the two previous years. CEO Christina Bustrup explains the good news primarily with the members' proactive efforts and the company's business model.
Despite a market development with continued price increases, the Danish Shipowners’ Accident Insurance Association (UFDS) is maintaining the same premium level as for 2024 and 2025.
Thus, the Danish shipping companies can – for the second year in a row – look forward to a new year with an unchanged premium for their statutory workers' compensation insurance for their seafaring employees.
The Board of Directors has set the basic premium on account for 2026 at DKK 7,920 per full-time insured person on a full-year basis (of 360 days per year), corresponding to a unit basic premium of DKK 22.00 per sailing day/day of service per employee.
»It is very good news that we can once again maintain our premium level, despite the development we see in the market in general,« CEO of UFDS Christina Bustrup says.
Together to create even greater safety
Christina Bustrup points to several reasons for the unchanged premium levels. One is the shipping companies' ever-increasing focus on improving the working environment and safety at sea.
»Secondly, we are working in close collaboration with Sedgwick Denmark to constantly further develop a good, efficient and customer-facing approach model and structure for case processing – including proactive claims handling for the injured party, which also leads to lower compensation levels over time,« she says.
In addition, she points to a third and perhaps equally important element as a foundation for the positive development: The business model as a mutual insurance company.
»We aren’t required to deliver a return to our shareholders, which again in 2026 will allow us to offer a more favorable premium in relation to the general market development,« Christina Bustrup says.
Going forward she eagerly awaits new dialogues on how the shipping companies and UFDS together can further elevate safety levels for the employees on the vessels in an industry undergoing a historic transformation driven by the green transition, digitalization and geopolitical challenges.
