Regulatory Alerts2024-12-05
Order on Payment of Certain Costs for Life Insurance Business
The Danish Financial Supervisory Authority issued this order to regulate how life insurance companies recover establishment and ongoing costs from policyholders or intermediary firms. It mandates that these costs be charged directly to the responsible party, with establishment costs recoverable over a maximum of three years and ongoing costs recovered in the year incurred. The responsible actuary must certify compliance with these charging rules in technical filings, and violations are subject to fines.
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