Denmark: Change to Treatment of Industrial Injury Insurance

The Danish Guarantee Fund for Non-Life Insurers (the ‘Fund’) has confirmed the scope of a new Fund contribution due on industrial injury insurance in guidance dated 10 March 2022. With a view to ensuring that adequate capital is held by the Fund, a new contribution of DKK 30 per policy is due on all industrial injury insurance written within the territory of Denmark for new or renewed policies incepting on or after 1 January 2022. It is declared and settled on a quarterly basis in the same way as other Guarantee Fund contributions and, as such, should be included on the return due for the Q1 2022 period and going forwards. The higher DKK 40 rate remains applicable to the other contributions.