Regulatory Alerts2024-06-18
Order on Conditions for Compensation for Damages Covered by the Terror Insurance Scheme and on Insurance Companies' Handling of NBCR Terror Damages
The Danish Ministry of Industry, Business and Financial Supervision issued this order to establish detailed rules for calculating and paying compensation for damages covered by the Danish terror insurance scheme. It mandates specific valuation principles for buildings, movable property, and business losses, while setting maximum payout limits for various categories such as relocation costs and special valuables. The regulation also governs the administrative handling of claims through the Naturskadebasen database and defines the appeal process to the Terror Insurance Council.
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