Tax Alert – Denmark – Update on Membership Details for Guarantee Fund
We have a further update regarding the membership details of the Danish insurance guarantee fund.
All EU/EEA insurance companies that provide non-life insurance into Denmark are required to enrol into the Danish guarantee fund. A one-off membership fee of DKK 50.00 per policy applies, with a minimum of DKK 100,000.00.
The specific lines in question are (as previously announced):
– Household contents
– Latent defect (change of ownership)
– Property (personal lines)
– Property seller’s liability
– Structural warranty (new builds)
Even if these specific private line insurance policies are not written the minimum contribution of DKK 100,000.00 still has to be made.
In addition to the membership fee, there is a DKK 40.00 contribution charged per policy for the above-mentioned lines of business.
As always, if you have any questions please get in touch with a member of the team at email@example.com