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Please make sure you view the key information alongside your search results. This section details information that must be considered before accepting a risk in the chosen country.

Disclaimer: Crystal is provided for information purposes; it does not constitute solicitation of business and is not intended to be a substitute for appropriate professional advice.

Denmark** Please see Lloyd's Authorisation for details of Lloyd's licensing status

Pre-placement considerations

Lloyd's authorisation

Insurance

Lloyd’s underwriters are authorised to write: 

  • All classes of insurance in this territory on a freedom of services basis, and
  • All classes, except credit, suretyship and assistance on an establishment basis

Lloyd's underwriters can accept insurance for the classes listed below, either on a freedom of services or establishment basis:

Last updated: 09 Jun 2014


Reinsurance

Lloyd's underwriters are permitted to write all classes of reinsurance business originating in this territory.
Last updated: 09 Jun 2014

Definition of risk location

A risk is located in a European Union or European Economic Area member state if it is:

Insurance

(a) a building (and its contents issued under the same policy) situated in that member state;

(b) a motor vehicle, ship, yacht or aircraft registered in that member state;

(c) a travel policy for four months or less taken out in that member state.

For any other type of insurance (including a life insurance) it is a risk of this member state if the policyholder is habitually resident in the member state or a business or an organisation if the establishment to which the contract relates is situated in that member state.

Reinsurance

The risk is located in that member state where the reinsured is located.

For general guidance on identifying the location of a risk please refer to the risk locator.

Last updated: 09 Jun 2014

Definition of Denmark

This Crystal report for Denmark does not include the Faroe Islands or Greenland.

Faroe Islands

The Faroe Islands is an independent, self-governing, territory within the Kingdom of Denmark. It is not a member of the EU/EEA. The Faroe Islands has its own insurance legislation and insurance regulator. EU and Danish insurance legislation does not apply in the territory. The passporting authorisation granted to Lloyd's underwriters in respect of Denmark does not apply to the Faroe Islands. Lloyd’s underwriters are not licensed to write insurance or reinsurance from the Faroe Islands. However, Lloyd’s understands that an insured in the Faroe Islands is not prohibited from contracting (re)insurance with unlicensed (re)insurers provided that the (re)insurer is not soliciting business (directly or indirectly) targeting (re)insureds in the Faroe Islands. Therefore, Lloyd’s understands that Lloyd’s underwriters can write non-admitted (re)insurance on this basis.

Greenland

Please see the separate Crystal report for Greenland.

For general guidance on identifying the location of a risk please refer to the risk locator.

Last updated: 21 Oct 2015

Compulsory classes

The following types of insurance are compulsory in Denmark:

    Liability for injury or damage caused by:

  • Motor vehicles.
  • Aircraft.
  • Dogs.
  • Horses.
  • The use of nuclear installations.
  • Hunting.
  • Oil transported in bulk as cargo when the ship transports more than 2,000 MT of oil.

    The liability of:

  • Lawyers.
  • Accountants.
  • Administrators and trustees.
  • Estate agents.
  • Energy consultants.
  • Certified weighers and measurers.
  • Railway operations.
  • Insurance against problems caused by faulty building construction (new buildings).
  • Insurance brokers/ insurance agents to foreign insurers.
  • Building experts.
  • Workers’ compensation (occupational accidents and diseases).
  • Medical malpractice (hospitals and patients' insurance).
  • Damage to hired vehicles.
  • Owners of small oil tanks (for domestic heating) must buy insurance to cover the clean up of any contamination caused by leakage.
  • It is usually a mortgage term of the property is covered by fire insurance but fire insurance is not a compulsory class.
  • Protection and Indemnity (P&I) cover for commercial vessels of 300 GT (gross tonnage) or more where the vessel is registered in Denmark or is registered in another country and enters a port in Denmark.
  • Public liability for vessels licensed to carry passengers, in respect of injury to passengers and damage to their luggage, where the vessel is registered in Denmark or is registered in another country and enters a port in Denmark.
  • Alternative investment fund managers and depositaries (or their own funds).
  • House content insurance for farmers' lodging employees.

There are certain requirements to be met when preparing the format of policies providing cover for compulsory liability insurance.

The wording of any policy or certificate used for compulsory insurance must be filed with the Danish Financial Supervisory Authority (DFSA) or another specified authority in Danish or English with a Danish translation, before it is used. Either the Lloyd’s broker or the Danish intermediary may do this via the Lloyd's General Representative for Denmark.

Last updated: 12 Apr 2016

Routes into Lloyd's

Coverholders

Lloyd's requirements for a coverholder carrying on Danish business on behalf of a Lloyd's managing agent

Binding authority held by a Denmark based coverholder
Last updated: 28 Sep 2016

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Binding authority held by a coverholder outside Denmark, in another EEA Member State
Last updated: 02 Aug 2016

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Binding authority held by a coverholder outside Denmark and outside the EEA
Last updated: 03 Aug 2016

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Reinsurance
Last updated: 28 Sep 2016

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Intermediary regulation

Demark has implemented the EU Insurance Mediation Directive (Directive 2002/92/EC) by way of the Consolidated Insurance Mediation Act No. 1065 dated 22 August 2013.

Intermediaries are categorised as insurance brokers, reinsurance brokers, insurance agents, sub-agents and insurance distributors. These categories are mutually exclusive.

Last updated: 12 Apr 2016


Insurance documentation

Insurance documents

Contract certainty applies to general insurance contracts either entered into by a UK regulated insurer (such as Lloyd’s underwriters) or arranged through a UK regulated broker (such as Lloyd’s brokers based in the UK).

Lloyd's has developed Quality Assurance (QA) checks to help the market comply with this requirement.

Further information on contract certainty can be found on the Market Reform website.

Last updated: 03 Oct 2016


Market Reform contract guidance

This guidance on completing a Market Reform Contract (MRC) focuses on tax and regulatory checks.

It provides advice on completion of the Fiscal and Regulatory section, plus completion of headings in other sections relevant to fiscal and regulatory compliance.

This guidance relates to insurance (ie not reinsurance).
Last updated: 09 Jun 2014


Language of contract

There is no legal requirement that insurance policies be in Danish.

However, it is recommended policies are in Danish unless the insured agrees to the use of another language.
Last updated: 08 May 2015


Choice of law

To meet contract certainty requirements, the contract must contain a choice of law clause.

In Denmark, the choice of law in insurance contracts is governed by the EU Convention 80/934/EEC on the law applicable to contractual obligations (Rome Convention 1980), the Second EU Non-Life Directive 88/357/EEC, the Third EU Non-Life Directive 92/49/EEC and the EU Life Directive 2002/83/EC.

Last updated: 12 Apr 2016


Jurisdiction

To meet contract certainty requirements, the insurance contract must contain a jurisdiction clause.

The Revised Brussels I Regulation 1215/2012/EU applies and determines the jurisdiction applicable.

Insurance of large risks: The underwriter can agree with the insured the jurisdiction that will apply to the contract.

Insurance of mass risks: In the event of a dispute, the rules in the Revised Brussels I Regulation determine the EU member state(s), in which a party can bring an action.

Reinsurance: The underwriter can agree with the reinsured the EU member state whose jurisdiction will apply to the contract.

Last updated: 07 Jan 2015


Service of suit

This information is secured Secure item
Last updated: 08 May 2015

Lloyd's representation and other contact details

Lloyd's representative

Mr Jes Anker Mikkelsen 
Lloyd's General Representative in Denmark 
Langelinie Allé 35
DK-2100
Copenhagen
Denmark

Tel: + 45 7227 0000
Direct: + 45 7227 3586
Fax: + 45 7227 0027
Email: jes.mikkelsen@lloyds.com

 

Mr Erik Börjesson
Nordic Regional Manager (Lloyd's market development)
Sveavägen 20, 6 tr
SE- 111 57 Stockholm
Sweden

Tel: +46 (0) 8 5452 5541
Fax: +46 (0) 8 5452 5549
Mobile: + 46 7053 999 82
Email: erik.borjesson@lloyds.com

Last updated: 08 May 2015