Regulatory Alerts2024-08-30
Order on Liability Insurance, Guarantee Provision, and Handling of Client Funds by Insurance Intermediaries, Reinsurance Intermediaries, and Accessory Insurance Intermediaries
The Danish Financial Supervisory Authority issued this order to regulate insurance, reinsurance, and accessory intermediaries regarding mandatory liability insurance, guarantee provisions, and the handling of client funds. It establishes minimum coverage limits of 1,564,610 EUR per claim and 2,315,610 EUR annually for liability, alongside a guarantee threshold of 2,505,531 DKK for client funds held in segregated accounts. The regulation supersedes previous rules effective October 9, 2024, and introduces penalties for non-compliance with these financial safeguarding requirements.
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