The Danish Guarantee Fund for Non-life Insurers

The Danish Financial Supervisory Authority (DFSA) has informed the Danish Guarantee Fund for Non-life Insurers (the Fund) that the collection of contributions for consumer insurance and equivalent insurance written or renewed in Denmark will be suspended. Consequently, from 1 January 2027, insurance companies will not be required to pay contributions for consumer insurance policies and equivalent insurance policies. However, the DFSA has instructed The Fund in 2027 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 DFSA has also instructed The Fund to collect contributions fixed at DKK 30 per insured under an industrial injury insurance policy, including violent injury insurance policy (converted into full time employees) written or renewed in Denmark in 2027.

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.

The Danish Financial Supervisory Authority has clarified that the term "vehicle" in Section 2, subsection 2 of the Act on a Guarantee Fund for Non-Life Insurance Companies shall be interpreted in accordance with Section 2, number 14 of the Danish Road Traffic Act. This implies that the definition of a "motor vehicle" shall be used in connection with contributions to the Guarantee Fund for Non-Life Insurance Companies. Similarly, the definition of a "motor vehicle" in the Executive Order on the Greenlandic Road Traffic Act shall be used for motor insurance risks in Greenland.