Regulatory Alerts2024-12-05
Order on Cross-Border Co-Insurance Activities within the European Union or Countries with Which the Union Has Agreements in the Financial Sector
The Danish Financial Supervisory Authority issued this order to implement EU directives regarding cross-border co-insurance activities for large risks within the European Union or associated countries. The regulation defines the scope of application, establishes that only the leading insurer is subject to specific Danish insurance and traffic laws, and mandates that co-insurers maintain statistical data and set technical provisions in accordance with their home country rules while meeting minimum standards set by the leading insurer. It repeals the previous 2017 order on the same subject and enters into force on January 1, 2025.
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