Executive Order On Terrorist Insurance Council

Original Language Title: Bekendtgørelse om Terrorforsikringsrådet

Subscribe to a Global-Regulation Premium Membership Today!

Key Benefits:

Subscribe Now for only USD$40 per month.

Publication of the Terrorist Insurance Council

Under Section 7 of Law. 469 of 17. In June 2008, a terrorist insurance scheme in the area of damage to the insurance shall be determined :

Member of the Terrorist Insurance Council members and alternates

§ 1. The Terrorist Insurance Council consists of four members, one member from each of the following authorities and organisation : the Ministry of Finance, the Ministry of Finance, the Finance Ministry and the terrorist insurance coil for damage insurance.

Paragraph 2. Members who are to have legal or financial insight shall be appointed by the professional and growth Minister for up to four years at a time and may be re-appointed.

Paragraph 3. The Member of the European Parliament is the chairman of the Terrorist Insurance Council.

Paragraph 4. The Terrorist Insurance Council shall be assisted by a secretariat. The secretarial services shall be provided by the Financial supervision.

§ 2. A suppleant shall be appointed for each member. In the case of a member, the suppleant shall, as far as possible, be provided on behalf of the Member.

Paragraph 2. The Supple shall be set and designated in the same manner as those members.


§ 3. The Terrorist Insurance Council shall decide whether it is an event caused by terrorist attacks, where NBCRs were used and the damage caused by the terrorist insurance scheme.

Paragraph 2. For the purposes of determining whether NBCR-terrorism is available, the Council of the Terrorist Insurance Council may use in particular expert assistance.

§ 4. The terrorist insurer is nominating annually by 15. in writing.-(b) November to the business and growth minister the amount threshold for when the reinsurance guarantee is to come into force.

Paragraph 2. In determining the procedure laid down in paragraph 1, 1 above limit, which cannot be less than EUR 2 billion, The possibility of reinsurance coverage in the current international genetic insurance market for NBCR-terrorism and other market opportunities to cover the NBCR-terrorist risks must be based on the possibility of reinsurance coverage. In order to determine the limit, the current solvency situation of the harmful insurance undertakings shall be taken into account.

Paragraph 3. The Council of the Terrorist Insurance Council shall collect information from the Financial supervision of the provisions of paragraph 1. The solvency situation referred to above.

§ 5. The risk premium shall be established in accordance with Article 5 (5) of the terrorist insurer. 3, and the Commission Decision of 14. In the case of the State aid case no. N 637/2009-Denmark, as the sum of the risk premium for the individual layers of the reinsurance guarantee. The stocks are divided into ranges of 1 billion. DKK For the lag that falls within the range of 2-3 billion and which are included in the reinsurance guarantee, a risk premium shall be paid at 0,18%. For the lag that falls within the range of 3-4 billion and which is part of the reinsurance guarantee, a risk premiums shall be paid at 0,17%. The risk of risk is then decreed by 0.01%. per layers. The risk of risk could not be less than 0,10%.

Paragraph 2. The entry into force of the scheme shall constitute the risk premium to the State of 0,15%. due to the reinsurance guarantee, and the limit on the entry into force of the reinsurance guarantee shall be EUR 5 billion. DKK

§ 6. The Council of Terrorist Insurance Council may, at the request of the terrorist insurance coil for damage insurance, set aside for the acquisition and growth minister, that a conto payment from the reinsurance guarantee must be made, regardless of the fact that the damage is not definitively inconclutiable.

Paragraph 2. To the extent that the disbursement of the reinsurance guarantee has been made without the limit for the entry into force of the guarantee limit, the terrorist insurance coil for damages to the State shall be liable for damages.

Council meetings and rules of voting

§ 7. The President-in-Office of the Council of the Council

Paragraph 2. The Council of Terrorist Insurance Council meeting on the meeting of the Council, and, incidentally, is the case that the President of the Council is very much on occasion. The Council's secretary will attend the meetings.

Paragraph 3. The members shall be convenalled at least 7 days ' notice unless the President decides otherwise.

Paragraph 4. The Council is a quorum, when at least half of the Members are present. Decisions shall be taken by a simple voting majority of the Members present. In voting, the President's voice is crucial.

Paragraph 5. The competent experts may, following the decision taken by the President, attend the meetings of the Council in determining whether there is NBCR-terrorism.

Entry into force

§ 8. The announcement shall enter into force on 1. July 2012.

Paragraph 2. At the same time, notice No 808 of 28. June 2010 on the Terrorist Insurance Council.

Erk, the Ministry of Growth, the 21 st. May 2012

Ole Sohn

/ Hans High