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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.

The Danish Financial Supervisory Authority (DFSA) has on the 31 of October 2023 instructed the Danish Guarantee Fund for Non-life Insurers (the Fund) to in 2024 continually collect contributions fixed at DKK 40 per further specified consumer insurances written or renewed in Denmark. The DFSA has also instructed the Fund to continually collect contributions fixed at DKK 30 per insured under an industrial injury insurance policy (converted into full time employees) written or renewed in Denmark. The DFSA has furthermore instructed the Fund not to collect contributions on motor comprehensive insurances written or renewed in Denmark for risks in Denmark in 2024.

The contributions on motor liability insurance written in Denmark will cease on 23 December 2023. After the 23 December 2023, the Danish Guarantee Fund for Non-Life Insurers is no longer allowed to require contributions on motor liability insurance written in Denmark by foreign insurance companies.

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

The Guarantee Fund for Non-life Insurers has updated the guidance concerning contribution on industrial injury insurance on 10 February 2023

The Danish Financial Supervisory Authority (DFSA) has on the 31 of October 2022 instructed the Danish Guarantee Fund to collect contributions continually fixed at DKK 40 per consumer insurance police written or renewed in 2023. The DFSA also instructed the Danish Guarantee Fund to collect contributions fixed at DKK 30 per insured under an industrial injury insurance police written or renewed in 2023.

The Danish Financial Supervisory Authority (DFSA) has on the 8 of October 2021 instructed the Danish Guarantee Fund to collect contributions continually fixed at DKK 40 per consumer insurance police written or renewed in 2022. The DFSA also instructed the Danish Guarantee Fund to collect contributions fixed at DKK 30 per insured under an industrial injury insurance police written or renewed in 2022.

The Danish Guarantee Fund for Non-life insurers takes over the obligations to take the portfolio of industrial injury insurance business under administration, when a non-life insurance company has its license to exercise industrial injury insurance business revoked or goes into bankruptcy.

The Danish Guarantee Funds' coverage is limited to the business Gefion conduct in Denmark for risks in Denmark.

In December 2020, the Danish Guarantee Fund has initiated legal actions against several UK insurance companies.

The Danish Financial Supervisory Authority has instructed the Guarantee Fund to continue collecting contributions from members of the Guarantee Fund in 2021, in order to re-establish the Guarantee Fund’s capital of DKK 300 mio.

Under section 6 of the Guarantee Fund Act, claims that are to be covered by the Guarantee Fund must be notified to the Guarantee Fund no later than 6 months after the bankruptcy decree was issued on 12 March 2020. Therefore, deadline to report a claim expires on 12 September 2020.

On 29 June 2020, the Danish Financial Supervisory Authority announced that on 26 June 2020, Gefion Insurance A/S' license as an insurance company had been withdrawn.

The Guarantee Fund for Non-life Insurers is aware that on 26 March 2020, the Danish FSA published a decision regarding Gefion Insurance A/S.

The trustee in the bankruptcy of Qudos Insurance has on 20 December 2019 summoned a number of people and companies connected to the management and owners of Qudos Insurance A/S.

The Central Bank of Ireland has released a statement on their website informing that CBL Insurance Europe DAC has ceased making claims payments with immediate effect.

The trustee in the bankruptcies of both Alpha Insurance and Qudos Insurance has published information regarding remedy claims on Danish motor liability insurance for both insurance companies.

The Danish Financial Supervisory Authority has instructed the Guarantee Fund to continue collecting contributions from members of the Guarantee Fund in 2020, in order to re-establish the Guarantee Fund’s capital of DKK 300 mio.

Policyholders of byggeskadeforsikringer from Qudos Insurance A/S during bankruptcy can request a return of premium via a claim form on Qudos Insurance A/S’s website.

Policyholders of ejerskifteforsikringer from Qudos Insurance A/S under bankruptcy (sold by Frida Forsikring Agentur A/S) can request a return of premium via a claim form on Qudos Insurance A/S’s website.

Under section 6 of the Guarantee Fund Act, compensation claims that are to be covered by the Guarantee Fund must be notified to the Guarantee Fund no later than 6 months after the bankruptcy decree was issued on 20 December 2018. Therefore, deadline to report a claim for compensation expires on 20 June 2019.

As of 1 January 2019 all direct providers of non-life insurance in the EU/EEC which through branches or cross-border services provide (or wish to provide) non-life insurance in Denmark, are obliged to be a member of the Danish Guarantee Fund for Non-Life Insurers

By a decree issued by the Maritime and Commercial Court in Copenhagen on 20 December 2018, Qudos Insurance A/S filed for bankruptcy. In that connection, the Court of Appeal appointed Attorney Boris Frederiksen from Kammeradvokaten/ Poul Schmith as insolvency administrator

The Danish Financial Supervisory Authority has instructed the Fund to collect contributions from members of the Guarantee Fund, in order to re-establish the Guarantee Fund’s capital of DKK 300 mio.

By a decree issued by the Maritime and Commercial Court in Copenhagen on 8 May 2018, Alpha Insurance A/S filed for bankruptcy. In that connection, the Court of Appeal appointed Attorney Boris Frederiksen from Kammeradvokaten/Poul Schmith as insolvency administrator.