The Guarantee Fund secures insurance customers in case of a bankruptcy
The Danish Guarantee Fund for Non-life Insurers was established in 2003 to help in situations where policyholders would lose their insurance cover if their insurance company goes bankrupt.
With the establishment of the Guarantee Fund it was ensured, in particular in the area of consumer insurance, that the Guarantee Fund, in the event of a non-life insurer's bankruptcy, provides cover under the law.
The Guarantee Fund has been expanded to handle the portfolio of industrial injury insurance, when a non-life insurance or life insurance company has its license to write industrial injury insurance business revoked or goes into bankruptcy.
The Guarantee Fund is a self-governing institution and is regulated by law and executive orders. The Danish Financial Supervisory Authority supervises the Guarantee Fund.
The Guarantee Fund for Non-life Insures is a member of International Forum for Insurance Guarantee Schemes (IFIGS) - den internationale organisation for forsikringsgarantiordninger. Additional information: http://www.ifigs.org/
