The Danish Guarantee Fund for Non-life Insurers

The Danish Financial Supervisory Authority (DFSA) has on the 10th of September 2024 instructed the Danish Guarantee Fund for Non-life insures (The Fund) to collect contributions in 2025, fixed at DKK 10 per further specified consumer insurances written or renewed in Denmark. The DFSA has also instructed the Fund to collect contributions fixed at DKK 30 per insured under an industrial injury insurance policy (converted into full time employees) written or renewed in Denmark in 2025. Furthermore, the DFSA has instructed the Guarantee Fund in 2025 to collect DKK 5 per motor liability insurance policy, that is written or renewed by Danish insurance companies within the European Union or countries with which the Union has financial agreements.

The Danish Guarantee Fund provides compensation to claims from an injured party for damage to property or personal injuries caused by a vehicle insured against civil liability by a bankrupt insurance company under the home member state principle. This means that the Danish Guarantee Fund in the future will also provide compensation to foreign policyholders that have taken out a motor liability insurance with a Danish non-life insurance company in the event of a bankruptcy.

All non-life insurance companies who are notified to carry out insurance business in Denmark must be members of the Guarantee Fund

As of 1 July 2023, Danish and foreign life insurance companies that have been authorised by the Danish Financial Supervisory Authority to conduct industrial industrial insurance business must be members of the Danish Guarantee Fund.