The Law On Insurance Business (Insurance)

Original Language Title: Lov om forsikringsvirksomhet (forsikringsvirksomhetsloven)

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Read the untranslated law here: https://lovdata.no/dokument/NL/lov/2005-06-10-44

The law on insurance business (insurance) date LAW-2005-06-10-44 Ministry the Ministry of finance Recently changed law-2015-04-10-17 from 01.01.2016, law-2015-06-19-65 from 01.10.2015 Published in 2005 booklet 7 entry into force 01.07.2006 Change LAW-1988-06-10-39 Announced 10.06.2005 short title insurance-forsvl.

Chapter overview: Chapter 1. General provisions (§ § 1-1-1-3) Chapter 2. Pension funds and deposit retirement companies (§ § 2-1-2-11) Chapter 3. Collective and individual life insurance (§ § 3-1-3-24) Chapter 4. Municipal pension schemes (§ § 4-1-4-18) Chapter 5. Common scheme for premium calculation for pension plans with performance-based enterprise pension (§ § 5-1-5-7) Chapter 6. Moving (§ § 6-1-6-14) Chapter 7. Damage insurance (§ § 7-1-7-10) Chapter 8. The exception provisions (§ § 8-1-8-8) Chapter 9. Penalty provisions (section 9-1) Chapter 10. The effective-and transition rules (sections 10-1-10-3) The title changed by law 10 apr 2015 Nr. 17 (ikr. 1 jan 2016 CISPR. 10 apr 2015 No. 350). The Act's short title amended by the law of June 27, 2008 # 65 (ikr. 27 June 2008 according to. 27 June. 2008 No. 750). -CF. the previous law 10 June 1988 No. 39 about the insurance business. CF. EEA Agreement annex IX part in Insurance and no. 31 d (dir. 2003/41) and part V.

Chapter 1. General provisions § 1-1. The scope of the law applies to insurance companies and pension companies that operate according to the distribution law, unless otherwise follows from the provision given in or pursuant to this Act.
The rules of Chapter 6 on moving also applies to banks and management companies for mutual funds.
The King may decide that the law here to apply to pension funds and can provide further rules on this.

§ 1-2. Geographical scope the law applies on the continental shelf and in the Svalbard archipelago, to the extent permitted of Norway's obligations under international law. The King determines the extent to which the law to be made applicable to the Norwegian economic zone and for Svalbard, Jan Mayen and bilandene.

§ 1-3. The exception from the law the King can in particular case exempt insurance companies or pension companies, as well as some forms of business that is run by such companies, from one or more provisions of the law and can set conditions for such exceptions.

Chapter 2. Pension funds and deposit the pension companies section 2-1. Pension Fund. Pension scheme a pension fund is a self-owned institution mentioned in section 7, distribution law-2, third paragraph, cf.. section 2-16.
As the pension scheme in this chapter is considered collective pension scheme as mentioned in the general business law § 2-16 the second paragraph.

section 2-2. Pension funds for several companies/employers Enterprises, municipalities and other employers who have access to create private pension scheme for corporate pension law Chapter 12, deposit the pension law Chapter 10 and the occupational pension Act section 7-1 or this Act, section 4-2, can have such a common pension scheme in a pension fund (corporate pension fund). The requirement for affiliation in the enterprise Pension Act section 12-1, the occupational pension Act section 7-1 and deposit the pension law § 10-1 also applies to the creation of the Pension Fund for private pension plan that is not covered by these laws.
Two or more municipalities may agree to have their pension plans in the same pension fund (pension fund interkommunal). The provisions of § 4-2, third paragraph, second and apply accordingly.
Two or more independent enterprises can enter into agreement to have their pension plans in the same pension institution (public service pension fund). The agreement shall in accordance with the rules of section 2-9 enter: a) the enterprises covered by the agreement, b) because capital in private pension cashier and what percentage each company to shoot into the private pension cashier, and rules on the duty of the later shooting in capital, c) private pension cashier's upper body with voting rights rules, d) which forms of collective pension schemes private pension cashier will take over, e) closer to the provisions of the consequences of the acquisition and merger of enterprises that have a pension scheme in the public pension register , f) notice the deadline for enterprises that want to step out of the agreement, and rules on the access to exclude a company from the public pension coffers, as well as about the settlement in accordance with § 2-9 fourth paragraph when a company goes out of joint pension case. Termination will be no matter could take place with three months notice with effect from the first year, g) if it will be used the same premium tariff or different premium tariffs for the different pension arrangements in the private pension case.

The King can give further rules on pension plans and pension funds covered by the paragraph here, including the regulation on access to the kommuners to have a pension scheme in the interkommunal Pension Fund and enterprise access to have a pension scheme in the public service pension fund.

§ 2-3. Organization of business a pension checkout business and economic conditions to be kept legally separate from the business of the employer, company, association or other institution that has a pension scheme in the pension case.
The Board shall provide for the proper organization of the business in accordance with the provisions of the financial business Act Chapter 13.
The Board may enter into agreements on the conduct of insurance technical calculations, registration of members and rights and other specific work tasks that are covered by the daily management of the business. Agreement on asset management can only be entered into with the bank or life insurance companies that have access to doing business here in the Kingdom, as well as with investment firms, the management company for mutual funds and managers of alternative investment funds that are allowed to engage in active management.
The Board shall ensure that it is available at any time in writing setting out guidelines for proper asset management, and discuss the guidelines at least every year. It should be worked out an account of the investment strategy that includes methods for the measurement and management of investment risk and the allocation of assets in relation to pension forpliktelsenes nature and duration.

§ 2-4. Relationship to pension schemes and employer regulations for a pension plan are determined by agreement between the pension cashier and employer. As an employer is considered here also parent company in the corporate, Government, Association and governing body in a Union pension plan.
The provisions relating to collective pension schemes in law 16. June 1989 Nr. 69 about insurance contracts also applies as far as they are appropriate. The draft regulations will be submitted to the pension register actuary to the opinion before acting.
Employer, Enterprise, association or other institution with a pension scheme in pension cashier can shoot into new capital in pension checkout to ensure that financial strength at any given time is justifiable, and that the minimum requirements of due capital and other capital is met. The same applies to employers associated with a Union pension plan.

section 2-5. Actuary a pension fund should have an actuary to make the necessary insurance technical calculations and research. Aktuaren shall be approved by the financial audit.
The King can give further rules on the criteria for the approval of the actuary and of the aktuarens responsibilities, rights and duties, as well as about the access to use the legal person as actuary.

§ 2-6. General rules for business the provisions relating to life insurance in Chapter 3 with the associated regulations also applies to pension funds with permission to take over the collective pension schemes which are considered as life insurance, unless otherwise is provided for in or pursuant to the law.
For pension funds with permission to take over the collective pension schemes without the insurance element applies to the provisions of § § 3-3, 3-11 to 3-13, 3-19 to 3-21 and 3-24 corresponding so far they fit.
To funds in a pension fund is managed as a separate investment portfolio, to the agreement determine how portfolio should be composed, rules about access to change the portfolio and other terms that are required.
The King can give further rules on pension kassers business, including rules for implementation and refinement of the provisions of paragraph here.

section 2-7. Information requirements members and retirees will be under about changes to fix the regulations for their own pension scheme.
Every year, the pensioner receiving a task with information about the level of his or her earned pension rights. It should also be briefed about the pension register investment strategy if the result of capital management is of direct importance for the scope of the pension rights.
Members and retirees will be sent on request pension cashier's financial statements with the annual report. The same applies to accounting for its own pension scheme if there are several pension plans in the pension case.
The King can establish closer to the rules on the information to be given to members and retirees.

section 2-8. Merging, splitting and merging, sharing and cessation cessation of a pension fund can take place according to the rules in the financial business law Chapter 12 paragraph I or II. The King can establish closer to rules on merging, sharing, and termination.
The provisions of the enterprise pension law chapters 13, 14 and 15, the occupational pension Act Chapter 7 and 11 deposit law, pension chapters 12 and 13 also applies as far as the fit, unless the King in his consent under subsection sets out additional terms and conditions.

section 2-9. Special rules for collective Enterprises can by unanimous vote decide to give a specific company access to to join the agreement.
An enterprise has the right to step out of the public pension coffers in accordance with the provisions of the agreement, cf. section 2-2, third paragraph, letter f. If a company defaults on its obligations substantially in the public pension coffers, can the remaining enterprises decide to exclude the company from private pension cashier and fix the termination time, cf. section 2-2, third paragraph, letter f.

When an entity should no longer have their pension scheme in the public pension coffers, to the part of the public pension funds as the register relates to this entity at the time of the termination, be assigned to the entity. The entity shall also be assigned to a part of the equity in private pension crate on fire time, calculated by the relationship between the premium reserve or age pension capital for the company's members and the premium reserve or age pension capital for all members in the public pension. By the way comes to the enterprise Pension Act section 12-7, the occupational pension Act section 7-1 and deposit the pension law § 10-5 fourth paragraph accordingly.
By the merger of several companies that are covered by a private pension fund, or of business in enterprises, the agreement's provisions on the right to vote and capital conditions adapted to the changed conditions. The same applies when sharing of undertakings covered by private pension case.

section 2-10. Reinsurance a pension fund shall at all times have reinsurance that is reassuring in relation to pension the register risk exposure and its financial position.
The Board shall ensure that it is updated guidelines on the nature and extent of pension register return the insurance and that these are followed up.

section 2-11. Requirements to the Organization, business, etc. in the pension provisions of deposit companies § § 2-3, 2-4 except the second paragraph, second sentence, 2-7 and 2-8 applies to deposit the pension companies so far they fit.
The provisions in the financial business law section 16-9 and in this Act, sections 3-3, 3-11 to 3-13, 3-20, 3-21, 3-24 and Chapter 6 applies as far as they are appropriate.
The King can give further rules on pension and deposit business organization business, including rules for implementation and refinement of the provisions of paragraph here.

Chapter 3. Collective and individual life insurance section 3-1. Scope and definitions provisions of this chapter apply to enterprises that provide collective life insurance, individual life insurance, or both, unless otherwise follows from the rules on municipal pension schemes in Chapter 4 or of the rules about private arrangement for premium calculation for pension plans with performance-based enterprise pension in Chapter 5.
That collective life insurance is considered collective pension schemes established in accordance with the enterprise pension law, occupational pension Act or the Pension Act of deposit, municipal pension schemes, as well as collective life interest insurance, group life insurance policies and other collective life insurance policies.
As individual life insurance is considered life insurance that is not collective life insurance.
The King can give further rules to the completion and refinement of the provisions of the chapter here, including closer to the rules for what should be considered public, respectively, life insurance, pension schemes, individual life insurance, free pension policies, evidence, pension capital evidence, the continuation insurance policies, insurances, engangsbetalte contract stipulated obligations and commitments related to the value of the specific investment portfolio.

section 3-2. Distinguish between enterprise rules If an undertaking that operates the collective life insurance business, the life insurance also operates individual business, the policies in this chapter with the related regulations for the overall business of the company, unless otherwise follows from the second paragraph.
The King can establish closer to the rules to be applied to the company's business related to individual life insurance contracts with contract stipulated obligations entered into before that time the provisions of the chapter here will take effect, and that the company has spun off as a separate portfolio. Entity shall in that case lead own accounting for this portfolio.
The first and the second paragraph also applies to an undertaking that only driver individual life insurance business.

section 3-3. Price tariffs entity shall at any time have price tariffs for the calculation of premiums for all of the products or product combinations that the entity offers. Price tariffs to specify the total remuneration the company calculates itself to take over the various types of risk that is associated with, and to provide the various types of services which are included in, the different products and product combinations.
The entity will be in determining the price tariffs to distinguish between: a) the price for the coverage of risks related to the person, b) price for the management of funds related to insurance contracts, including the company's risk of yield the result, c) price for the management of the funds in the different investment portfolios of investment choice, and in the case of consideration for ROI guarantee related to the portfolios, and d) price for administrative services.

Price tariffs can stipulate that the policyholder, in addition to the estimated premium for the individual contract, will pay a contractual fee at the beginning of the insurance relationship, and a break fee if the policyholder ends the insurance relationship before the insurance time has expired. The King can give further rules on the size of such fees, and make exceptions for the rule in the first sentence for collective life insurance policies. Beyond this, the company can not require addition to the premium calculated according to the current price tariffs.
For free policies, pension and proof evidence that the pension capital is managed with the investment choice can the company each year require consideration for administrative services for own price tariff. For continuation insurance policies based on free policies, pension or retirement funds evidence evidence should price tariffs for person risk and for the management responding to the price tariffs that is the basis for the current free policy, pension or retirement funds proof proof. The King can give further rules on price tariffs for continuation insurance policies, including the exception to the rule in the second sentence.
By the design of the price tariffs to the company make sure that: a) the company's premier will stand in a reasonable relationship to the risk that is taken over and the services provided, b) the company's prizes will be sufficient to provide assurance that the commitments for the settlement of the contracts are met, and will be reassuring out from the company's finances, and c) it will not happen unreasonable differential treatment between products , product combinations or customer groups.

The King can give further rules on price tariffs. The King can also provide further rules on interest rates and other calculation elements that the entity can make use of the design of the price tariffs.

section 3-4. Gender as a factor in the calculation of risk the company can use gender as a factor in the calculation of the price for the coverage of risks related to the person and in the calculation of premiums and benefits if the gender is a determinant factor in the calculation of risk, and this is based on relevant and accurate actuarial and statistical data. By agreements on private and voluntary insurance policies outside the working conditions to the application of gender as a factor by the calculation does not lead to differences in forsikringstakeres prizes and benefits.

§ 3-5. Change of price tariffs the company may change its price tariffs, and if so, shall fix the time from which new tariffs will apply.
In relation to the settlement of the contracts may not make the change the company current before the first regular premium decay at least four months after the policy holder has received notification of the change.

§ 3-6. The calculation of premiums, etc. In the calculation of premiums to the enterprise use the then-current price tariffs, unless otherwise follows from § 3-5 the second paragraph. Requirements for payment of the premium to specify which records are included in the calculation, and the relationship of importance for premium calculation.
The premium should be calculated for one year at a time, and paid in advance every year unless it is agreed in the course of terminvis payment year.
The King can establish special rules for the calculation and payment of the premium for engangsbetalte insurance policies.

§ 3-7. Notification and supervision of price tariffs entity shall notify the Financial supervision of fixed price tariffs and the principles for the design of the tariffs. The same is true when changing the price tariffs. The King can give further rules on the obligation to report.
Financial audit should lead control to ensure that the price tariffs being used are in accordance with the rules given in or in pursuance of § § 3-3 to 3-5, and that the premium calculation occurs in accordance with the rules in section 3-6.
The financial authority may prohibit the use of price tariffs that Financial Audit find is ubetryggende or unreasonable.

section 3-8. The insurance capital in the life and pension insurance company going to lead own customer accounting for each contract with overview of insurance capital. Insurance capital associated with a contract shall consist of the premium reserve, pension capital, additional accruals, premium funds, deposit funds, pensjonistenes surplus funds, pension funds, Fund regulatory control and buffer allocation.

§ 3-9. Premium reserve relating to the contract stipulated obligations Premium reserve for contract stipulated obligations is to be calculated on the basis of the technical basis for calculation the insurance premium. Premium reserve will make up the difference between the present value of the company's future obligations and the present value of the company's future net prizes. Additional benefits as a result of the added profit is excluded. NET is calculated as the premier Prize specified in § 3-6, with the deduction of the price of the administrative services and the price for the management.
Premium interest rate or change the calculation the biometric assumptions that underlie for premium calculation, Project calculates the premium reserve for obligations that arise after the change on the basis of the new calculation interest rate or the new biometric calculation.

Premium reserve shall each year be provided an amount that corresponds to the Save section of this year's prize, annual return in accordance with the premium calculation interest rate, and the amount after the calculation base annual premium shall be provided as a result of the reserve that the entity's obligation to insured that is dead in the course of the year, has lapsed. Premium reserve shall also be provided profits under the rules of section 3-18. To the deduction comes free substantive premium reserve among other things as a result of payments.
If it occurs during the year, the insurance cases that give right to the payment of disability benefits or benefits to survivors, to premium reserve be provided an amount that fully corresponds to the present value of the company's future obligations.
Premium reserve should be assigned to the individual contracts and the insured on the basis of the company's obligations.
The King can establish closer to the rules on the calculation of the premium reserve, including about the interest rate to use in the calculation.

section 3-10. Premium reserve for obligations related to special investment portfolio Pension capital where the obligations are linked to the value of the specific investment portfolio, shall at any time motsvare the value of the investment portfolio that is assigned to the contract. The share of profit of risk result is excluded.
If a pension plan or contract without the contract stipulated age pension benefits gives the right to contract stipulated the disability-or etterlatteytelser, calculate premium reserve for such obligations under the rules of § § 3-9 and 3-19.

section 3-11. Section of management capital the company's asset value to be split into collective portfolio, investment choice and portfolio company's portfolio. Each of the portfolios can be divided into several under the portfolios.
Assets which correspond the insurance capital related to the company's contracts with contract stipulated obligations will be included in collective portfolio. That contract stipulated obligations are considered liabilities that are not related to the value of particular investment portfolio.
Assets which correspond the insurance capital related to the value of a particular investment choice portfolios will be included in the investment portfolio options.
Assets which correspond the insurance capital related to the contract stipulated the disability-and etterlatteforpliktelser, are included in the collective portfolio even if assets related to old-age retirement benefits are placed in special investment portfolio. This does not apply when the insurance capital related to the contract stipulated the disability-and etterlatteforpliktelser are managed in the investment portfolio selection under the rules of enterprise pension law § 11-1.
Assets that are not included in the collective portfolio or investment choice portfolio, are included in the company's portfolio.
Premium funds, deposit funds, surplus pension funds pensjonistenes, regulating mutual funds and regulating mutual funds are considered here as part of the portfolio other assets related to the contract are included in, unless it follows from the contract that the funds in the Fund to be placed in another way.
By the choice of the assets to the different portfolios, and at the change of the composition of portfolios, company shall comply with the requirements for good business and make sure that it doesn't happen unreasonable differential treatment of customers. The company should have guidelines for the selection of the assets and the change of portfolios to avoid any conflicts of interest between customers and customer groups or between customers and the company. In the case of conflict of interest between customers and the company, to the consideration of walking in front of customers.
Entity shall create a system for the registration of the assets as at any given time are included in the various portfolios.
The rules in paragraph here is do not preclude the entity establishes a scheme for the overall asset management.
Financial audit may, in accordance with the provisions in this paragraph, make a decision about which portfolio a contract, and funds that correspond a provision, will be included in the King can give. regulations to the padding of the rules in paragraph here.

§ 3-12. The management of the portfolios the funds in collective portfolio can be managed in separate sections set out from the entity's risk of yield the result.
The funds in the investment choices will be placed in a particular portfolio investment portfolios for each contract in the investment options portfolio in accordance with the requirements arising out of the contract between the company and the policy holder and in accordance with regulations stipulated in or pursuant to the law.

section 3-13. Assignment of returns. Profit Return by management of the funds placed in collective portfolio to be allocated annually between the contracts covered. The distribution will be made after the relationship between the insurance capital that is associated with each of the contracts.
Return assigned to a contract shall after deduction for allocation in accordance with the calculation base for the contract and in case of additional provisions under section 3-19 is assigned to the contract that the profit on ROI results. The same applies the mapping of return of funds corresponding to the prize fund, deposit funds, pensjonistenes surplus funds, pension funds and mutual funds regulatory control. Return of funds in risk fund this Fund is assigned level.
Return by the management of the funds placed in special investment portfolio should be assigned to the annual contract portfolio is linked to. It is associated with ROI guarantee to an investment portfolio, to guaranteed returns that are not covered by the achieved return on investment, are covered by the insurance company. The same applies the mapping of return of funds in the prize fund, deposit funds, pensjonistenes surplus fund, pension fund or Fund regulation regulation managed in particular investment portfolio.
Return of the assets covered by the company's portfolio will be assigned annually the enterprise.
The assets to be valued in accordance with the rules given in the annual accounting regulation for insurance companies.
The King may by regulation provide further rules on the valuation of assets.

section 3-14. Profit at risk score entity shall each year to calculate the risk results specific to each group of pension plans, other collective arrangements or contracts, and individual contracts including free policies, pension and proof evidence pension capital.
That profit is considered the premier calculated in advance after the current risk premium calculation base for a group of deductions for the actual risk costs for the group. It should be seen by the calculation away from the profits of the entity that is built into the price tariffs for risks related to the person.
Profit at risk result to be allocated annually between the individual contracts in each group after the relationship between the risk premiums that are paid to the individual contract. The company may still decide that until half of the this year's overall surplus on the risk result to be allocated to the risk Equalization Fund.
The King can give further rules that certain types of contracts can be exempted from the provisions in the first to the third paragraph.

section 3-15. Appreciation of the premium reserve Entity can, with the consent of the financial supervision, make use of the whole or a part of this year's profits under section 3-13 the first paragraph and section 3-14 to increase the premium reserve for insurance obligations related to the contracts the surplus should have been otherwise assigned.
Financial audit can give a company consent to, in a fixed number of years, to outline the annual surplus in accordance with the first paragraph in accordance to a plan that must be communicated Financial Audit. Financial audit can set as criteria for consent that the company is transferring an amount from the company's capital to the premium reserve.
When the consideration of the financial strength or move the court warrant, can Finance the authority give the enterprise an order to make use of the whole or a part of the profit as stated in the first and second paragraph.
Profits that are being used by the rules in the first to the third paragraph, should be provided for the individual premium reserve contracts.

§ 3-16. Profit assigned to the free pension policies, evidence and pension capital proof with the contract stipulated obligations the provisions of paragraph here comes the application of profit under section 3-13 first and second paragraph assigned to free pension policies, evidence and pension capital proof with the contract stipulated obligations. The King may by regulation provide that the provisions of paragraph here also apply to other types of contracts.
Is foretakts risk score negatively for a group of contracts, the contract's share of the risk result is covered by the deduction in excess of the rate of the result assigned to the contract.
The company has the right to up to 20 percent of the profit at the rate of the result that is assigned to the contract, in the event that after deductions for share of negative risk score in accordance with the second paragraph. Entity shall fix in the statute where the high percentage rate to use. It is, within the limitation in the first sentence, access to determine the different allocation keys out from the entity's risk of yield the result. The King can give further rules for such profit sharing.

section 3-17. Negative risk score for the free pension policies, evidence and pension capital investment choice proof with the provisions of paragraph here comes free pension policies, evidence and pension capital evidence assigned to own investment portfolio with the investment choice. The King may by regulation provide that the provisions of paragraph here also apply to other types of contracts.
Is the entity's risk score negatively for a group of contracts, the contract's share of the risk result is covered by the deduction in return assigned to the contract pursuant to section 3-13, third paragraph, or in the value of the investment portfolio assigned to the contract.

section 3-18. The application of profit assigned to the contract When nothing else follows from § § 3-15, 3-16 or 3-17, the following applies: a)

Profit under section 3-13 first to the third paragraph and section 3-14 assigned to contracts that are regulated by the enterprise pension law, occupational pension Act or the Pension Act to be deposited are allocated according to the rules about the distribution of returns in these laws.

b) Profits assigned to other contracts to be applied in accordance with what is specified in the contract between the company and the policy holder.

§ 3-19. Additional provisions to ensure its obligations under contracts with contract stipulated obligations, can the company take all or part of the profit on ROI results for the individual contract for additional provisions beyond the minimum requirement to the premium reserve. The same applies for contracts in the specific investment portfolio to ensure age-, disability-and etterlatteytelser under the rules of enterprise pension law § 11-1. Financial audit may, when it finds that the soliditetshensyn warrant, impose on the undertaking to apply the profit on the individual contract for additional provisions.
The company's additional provisions should be distributed on the individual contracts. The entity determines the employee's additional provisions, jf. section 3-13 the first paragraph, as a percentage of the premium reserve relating to the individual contract. The King can give the regulation on access to use a higher percentage of contracts with high calculation interest rate or low additional provisions.
If the return assigned to a contract pursuant to section 3-13 the first paragraph in a year is not large enough to meet the annual requirement to the increase in premium reserve for premium calculation base, the requirement is met by the use of additional provisions assigned to the contract.
Leading additional accruals awarded a contract a year to overall additional accruals exceeds an amount equal to 12 percent of the premium reserve relating to the contract, the excess amount shall be assigned to the contract as profit. The sum of the premium reserve and the additional provisions related to a contract with the contract stipulated obligations can otherwise not be reduced in any other way than by payment to the insured.

section 3-20. Premium-and deposit funds, etc. The company's liabilities related to the prize fund, deposit funds, cache, sales, pensjonistenes surplus funds, pension funds and mutual funds regulatory control to match the Fund's value at any time.
§ 3-19 also applies to such fund to the extent they should be provided return in accordance with the rule in section 3-13 the second paragraph.

section 3-21. Course adjustment fund Course Development Fund should be equal to the sum of unrealized gains on financial current assets which are included in collective portfolio, jf. section 3-11 the second paragraph.
Course control Fund should not be assigned to the contracts in collective portfolio.
The King can give further rules on course development fund.

section 3-22. Risk leveling Fund Risk leveling Fund can only be used to cover the annual requirement to the increase in premium reserve for the individual contracts when the need for the increase is due to risks related to the person.
Risk fund will be allocated leveling not on the individual contracts.
The King can give further rules on risk leveling Fund.

section 3-23. Account-keeping. Account statement in the life and pension insurance company shall create and lead an account for each insurance, that will contain the customer accounts with the overview of the insurance capital, changes in capital last year and the status of the insurance as of 31. December each year. The company shall each year send the policy holder printing of the account.
The Ministry further gives rules about this.

section 3-24. Life insurance benefits in war If Norway is going in the war, the King can decide that the benefits for life insurance contracts to be paid only in part. The King can also make other necessary changes in life insurance contracts to cover the deficit in a life insurance undertaking as a result of the war.

Chapter 4. Municipal pension schemes section 4-1. Scope the provisions of this chapter apply to: a) pension schemes with defined benefit pension created in life insurance companies or in the Pension Fund of the local government employer who is bound by the basic collective agreement entered into between the employer and employee organizations in the municipal sector, or of the collective agreement with the corresponding requirements of the pension plan for municipal employer, b) corresponding pension plans for State health authority and other State enterprises, c) similar pension schemes for enterprises where a municipality has the controlling interest or have or have had a municipal ownership or who have close ties to a municipality.

As the local government pension scheme is considered here a pension scheme covered by the first paragraph.
The Ministry may fix closer to rules to the completion and refinement of the provisions of the chapter here.

§ 4-2. Municipal konsernlignende conditions a municipality and one or more undertakings in which the municipality has controlling interest, or more such companies, can create private pension scheme. Enterprises that the municipality has or has had an interest in, or who have close ties to the municipality, may be included in such a private pension scheme.
The pension scheme, in accordance with the provisions of § 4-6 is considered as a common scheme for premium calculation. By the way comes to the enterprise pension law § § 12-3 and 12-4 equivalent as far as appropriate.
Upon termination of the Association to the consolidated ratio applies to the enterprise pension law § § 12-5 to 12-7 accordingly.

section 4-3. Municipal industry A life insurance companies doing business related to both municipal and other collective pension schemes, to treat the municipal pension schemes as a separate industry. There should be separate accounting for the industry.

§ 4-4. This year's premier annual premium for a pension plan should correspond to the sum of the ordinary annual premium, regulating premium and special one-off prizes for benefits that can not be premiesettes in advance.
The premier is calculated according to the rules in section 4-5, cf. § § 4-7 and 4-8, for as far as nothing else follows from the rules in section 4-6 on a common scheme for premium calculation.

§ 4-5. Premium calculation the pension scheme shall annually be provided a prize that after the calculation base for the scheme are sufficient to ensure the right to the pension that members will earn during the course of the year, with the addition of this year's risk premiums and costs for services (regular annual premium). Premium for each year are calculated by this year's beginning and later in the year in step with wage developments.
The pension scheme shall in addition be provided each year Prize to coverage of oppreguleringen during the year of earned pension rights and ongoing pensions (control premium). Control premium is calculated at the time of oppreguleringen out from the wage developments in the course of the year and the regulation of pensions in payment and earned the right to pension to members who have resigned his position without the right to the payment of a pension, in accordance with the change of base amount.
The pension scheme shall also be provided each year Prize to coverage of other pension rights as members of the case get during the year, and that can not be premiesettes out in advance from the insurance technical calculations. Such a premium is calculated at the time the pension rights occurs.
By estimates of the premium according to the rules in paragraph here should be made deductions from pension benefits for those benefits which, from the then-current rules of the national insurance scheme, can be assumed to be paid from the national insurance scheme (calculated national insurance scheme). The Ministry may give further rules on the determination of the calculated national insurance scheme.

section 4-6. Common scheme for premium calculation the provisions of § 4-5 is not an obstacle for the creation of private arrangements which consists of several pension schemes, that the premium for the individual pension schemes that are part of a common scheme, shall be determined by calculation based on principles that will counter that the pension costs for the individual members of a corresponding pension rights will vary with the members ' gender and age.
A common arrangement created pursuant to the first paragraph, shall each year be provided prizes corresponding sum of ordinary annual premium determined by the insurance technical calculations for all pension plans which are included in the common scheme. The individual pension arrangements share of total ordinary years of premium to the common scheme is calculated from the ratio between the total pension basis for members of each of the pension schemes, unless it is set out in the insurance terms and conditions of pension arrangements in the private scheme that the calculation should be made instead from the gross age pension performance less the calculated performance from the national insurance scheme for all members in each of the pension schemes. Costs for services can be calculated and charged separately for each pension scheme.
Occupied a worker as a member of a pension plan in the course of a year, insurance is charged the pension scheme with an additional premium for the part of the year which then remains. The add-in is to be calculated from the pension plan's share of the total ordinary annual premium to the public scheme and the percentage increase of the pension plan overall basis for calculation of the premium after the second paragraph, second sentence as the new Member represents. Deviations from the calculated insurance premium are included by the calculation of the ordinary annual premium to the common scheme in the following year.
If in the course of a year a new insurance and pension scheme in a joint arrangement, to the ordinary annual premium for the pension scheme for the rest of the year is calculated from the total ordinary annual premium to the common scheme that is estimated for this year, and the percentage of the increase of the overall basis for the calculation of the premium after the second paragraph, second sentence that the pension scheme may cause.

It shall be determined in the insurance contract about regulating premium as mentioned in section 4-5 the second paragraph should be calculated separately for each pension scheme or in whole or in part by the average calculation. By special calculation shall control the premium is calculated for each pension scheme in the private scheme from the percentage increase of the premium reserve for pension scheme that is required as a result of upregulation of members ' earned pension rights out from wage developments. Control premium for upregulation of pensions under the payment and of earned the right to workers who have just resigned his position without the right to the payment of a pension, will be calculated in relation to the part of the premium reserve that ensures such pension rights. By average calculation to the public each year regulatory arrangement contributes to the sum of the prizes corresponding annual regulatory premier under section 4-5 the second paragraph for all pension plans which are included in the common scheme. The individual pension arrangements share of overall control premium to the common scheme is calculated from the ratio between the total premium reserve for each of the pension schemes at the time of upregulation of pension rights. Costs for services can be calculated and charged separately for each pension scheme.
It shall be determined in the insurance contract about premier as mentioned in section 4-5 third paragraph should be calculated separately for each pension scheme or wholly or partially by average calculation, as mentioned in the second paragraph.
The Ministry may fix closer to rules about private arrangements for premium calculation.

section 4-7. Premium calculation from the linear earning etc. When calculating the pension ordningenes is added to the premier to reason that the members ' right to pension earned linearly from the time of membership of the pension scheme and forward to a retirement age of 67 years or other special age limit. To previous service time from the State or other local government pension scheme is excluded, is considered the time of membership from a similar earlier point in time.
Enterprise pension law § 9-3 applies accordingly.
If a Member makes use of the right to retire with a right to the payment of a pension before retirement, reached to the required additional premium as mentioned in section 4-5, third paragraph.

§ 4-8. Change in the conditions for the calculation the insurance technical it turns out that the deduction of pension benefits for benefits paid out of the national insurance scheme is less than assumed by the premium calculation, the additional premium shall be calculated under section 4-5 third paragraph to cover the difference. It also applies if the reason is the change in the regulations for the insurance scheme which means that benefits from the national insurance scheme be reduced or will be reduced. Is the deduction for benefits from the national insurance scheme greater than assumed by the premium calculation, to the excess premium reserve dropping premium Fund.
It turns out otherwise, that the essential prerequisites for the calculation base used in the calculation of prizes in previous years, it fails are determined new calculation basis and in the event of changed conditions for the pension scheme. Subject to the right to change the prize in such cases should be disclosed in the terms of the pension scheme.
Enterprise pension law § 9-5 first and second paragraph applies accordingly.

section 4-9. Payment of the premium Is the premium for an insurance sow not paid at year-end or by the expiration of the second term set out in the new premium notice after the insurance contract Act section 14-2, the increase of insurance commitments that it would not award paid cover. The members of the pension scheme or pension schemes should in the case be notified about this. It can not, however, as a result of such a disappearance required repayment of the pension for the very.
The Ministry may fix closer to rules on payment of the premium.

section 4-10. Minimum requirements to the premium reserve Premium reserve for pension scheme shall at all times be so great that it after the insurance technical calculation base for the scheme are sufficient to ensure the right to earned pension for members, including the right to disability pension and survivor's pension.
Premium reserve for a pension plan should at least be equal to the sum of the premium reserves as needed after its calculation to ensure the right to earned pension for each Member of the pension scheme, including premium reserve earned by workers who have just resigned his position. This is still not premium reserve for resigned employee who gets included service time in the other scheme if the corresponding premium reserve is transferred. For a member who has been with the rain service time from another pension scheme, cf. section 4-7 the first paragraph, without transfer of the corresponding premium reserve, should it be made deduction equivalent to the premium reserve which will be sufficient to ensure the right to the pension earned by such counting the service time.
By the calculation of the premium reserve shall be made deductions from pension benefits for those benefits which, from the then-current rules of the national insurance scheme, can be assumed to be paid out of the national insurance scheme, cf. § 4-5 fourth paragraph.
By the calculation of the premium reserve shall also be made deductions for insurance obligations that has lapsed under section 4-9.

section 4-11. Pension plan insurance capital solidarity insurance capital consists of premium reserve, supplementary provisions, prize fund, and possibly the buffer allocation.

section 4-12. Disposal of pension plan assets Pension Plan funds to be kept separate from forsikringstakerens funds. The funds for commitments not forsikringstakerens booklets and can not by mortgaging or otherwise be used to secure or to cover its creditors.
The funds may not be used to pay pensions or other benefits to workers who are not busy as a member.
For the prize fund associated with the pension scheme applies to enterprise pension law § § 10-2 to 10-4 equivalent as far as the fit.

§ 4-13. Investment management solidarity funds should be managed in accordance with the rules for investment management in life insurance companies and pension funds that applies at any given time, but except as provided by section 4-15.
Return of funds related to the prize fund should be provided annually premium Fund.

§ 4-14. Profit Surplus are credited to the pension scheme will be added to the policy holder and is transferred to the solidarity Prize Fund.
Profit on premium reserve relating to pension under the pay-out or related to intent to employee pension right off the case should still be provided premium reserve pension or retirement if the performance right is not regulated in accordance with the annual change of the basic rate in the national insurance scheme.

section 4-15. Own investment portfolio the policy holder can in accordance with the provisions in the regulations for the pension scheme agreement that insurance capital to be managed as an investment portfolio assigned to the pension scheme. The agreement shall specify how the portfolio must be set up and what access there is to change the composition, as well as the rate of security as in the case is related to the portfolio.
Return out of it that is assumed in the pension plan calculation base is transferred to the prize fund.
Is the return on the investment portfolio in an accounting period are not as great as provided in the premium calculation base for the pension scheme, will be required when transferring the difference covered from the prize fund or grants from the policy holder. Pension corresponds to the device that is being insured covered the difference.
Enterprise pension law § § 11-3 to 11-5 applies accordingly.

section 4-16. Retirement facility's disclosure will create and Retirement facility lead separate account for insurance capital attached to each pension plan. The account should contain the accounting and the status as of 31. December for each year. Closer to the rules determined by the Financial Audit.
Retirement facility should each year send the policy holder the printing of the account for the pension scheme along with the information that will be of significant importance for the forsikringstakerens assessment of the insurance relationship. Financial audit provides further rules on this.
Retirement facility will issue a pension evidence to workers who resigns his position without the right to immediately nascent retirement. Pension the proof will enlighten the pension rights he or she has earned (scheduled rights) at retirement. Retirement facility should later at the request of the holder of the pension the proof provide updated information. When moving the pension scheme which includes the scheduled right pursuant to § 6-11, to the pension scheme the pension that will move the device from, inform the terminated employee.

section 4-17. The relocation of the pension scheme the pension scheme and its assets can be moved to different pension gadgets under the rules of Chapter 6.

section 4-18. Termination of the pension scheme If an undertaking with the municipal pension plan goes bankrupt or is hit decision on that entity or its business to be wound up, the pension scheme shall cease. The same is true about the company stops paying premium to the pension scheme and the prize can not be covered by funds in the prize fund.
When a pension plan terminates, to the pension plan assets are allocated between the members, pensioners and workers who have resigned their posts on the basis of the premium reserve related to earned pension rights to each person, and is used to ensure their right to a pension in retirement facility.

Chapter 5. Common scheme for premium calculation for pension plans with performance-based enterprise pension section 5-1. Work area etc. The provisions of this chapter apply to pension plans with performance-based enterprise pension where the funding scheme is based on the premium calculation in private schemes.

Defined benefit corporate pension schemes mentioned in the first paragraph may only be included in the common arrangement consisting of other performance-based enterprise pension schemes.
A common pension scheme for corporate enterprises can make a private arrangement. Company pension schemes in the same public service pension fund can make a private arrangement.
A retirement facility that has one or more private arrangements to keep accounts for each private arrangement.
The Ministry may give further rules to the completion, execution and refinement of the rules in chapter here.

section 5-2. This year's premier annual premium for a pension plan should correspond to the sum of the ordinary annual premium, regulating premium and special one-off prizes for benefits that can not be premiesettes in advance.
The premier is calculated under section 5-3 if nothing else follows from the rules in § § 5-4 and 5-5 in the private scheme for premium calculation.

section 5-3. Premium calculation the pension scheme shall annually be provided a prize that after the calculation base for the scheme are sufficient to ensure the right to the pension that members will earn during the course of the year, with the addition of this year's risk premiums and costs for services (regular annual premium). Premium for each year are calculated by this year's beginning and later in the year in step with wage developments.
The pension scheme shall in addition be provided each year Prize to coverage of upregulation during the year of earned pension rights (control premium). Regulating the prize is calculated on the time of the oppreguleringen out from the wage developments in the course of the year.
The pension scheme shall also be provided each year Prize to coverage of the pension rights which the members of the case get in the course of the year, and that can not be premiesettes out in advance from the insurance technical calculations. Such a premium is calculated at the time the pension rights occurs.

§ 5-4. Criteria for the common arrangement for premium calculation the provisions of Chapter 3 is not an obstacle for creating common arrangements which consists of several pension schemes, that the premium for the individual pension plan that is part of a common scheme, shall be determined by calculation based on principles that will counter that the pension cost for the individual members of a corresponding pension rights will vary with the members ' gender and age.
All pension arrangements in a joint arrangement to have pension plans that provide the same types of pension benefits. The relationship between the age pension performance and etterlatteytelse for the individual Member shall be the same for pension plans for all pension schemes. All pension arrangements should build on the same calculation rate and essentially the same calculation basis.
Pension schemes with pension plans that provides a different level of performance for old age, can be part of the same common scheme.

section 5-5. Premium calculation in private schemes A private arrangement created pursuant to section 5-4 shall each year be provided premium corresponding the sum of ordinary annual premium determined by the insurance technical calculation for all pension plans which are included in the common scheme. The individual pension arrangements share of total annual premium to the common scheme is calculated from the relationship between the right to old age pension that will be earned during the course of the year for all members of each of the pension schemes. Costs for services may be exempted from distribution in the public scheme.
Occupied a worker as a member of a pension plan in the course of a year, insurance will be charged additional premium for the remaining part of the year. The supplement is calculated from the pension plan's share of the total annual premium to the public scheme and the percentage increase of the pension plan calculation basis after the first paragraph, second sentence as the new Member represents. Deviations from the calculated insurance premium are included by the calculation of the ordinary annual premium to the common scheme in the following year. The provisions in the first to third period also applies when calculating the premium addition to special pay increase for a member of the pension scheme.
If in the course of a year a new insurance and pension scheme in a joint arrangement, to the ordinary annual premium is calculated from the total ordinary annual premium to the common scheme that is calculated for the year, and the percentage of the increase of the overall calculation after the first paragraph, second sentence that the pension scheme represents.
It shall be determined in the insurance contract about regulating premium as mentioned in section 5-3 the second paragraph shall be calculated separately for each pension scheme or in whole or in part by the average calculation. By special calculation shall control the premium is calculated for each pension scheme in the private scheme from the percentage increase of the premium reserve for pension scheme that is required as a result of upregulation of members ' earned pension rights out from wage developments. By average calculation to the public each year regulatory arrangement contributes to the sum of the prizes corresponding annual adjustment premium under section 5-3 the second paragraph for all pension plans which are included in the common scheme. The individual pension plan share of overall control premium to the common scheme is calculated from the ratio between the total premium reserve for each of the pension schemes at the time of upregulation of pension rights. When calculating the premium reserve under the rules of the link here to premium reserve relating to pensions during payment excluded from the calculation, unless otherwise stipulated. Costs for services can be calculated and charged separately for each pension scheme.
Control premium for pensions under the payment is to be calculated and paid separately for each pension scheme.
It shall be determined in the insurance agreement the extent to which prizes as stated in section 5-3 third paragraph should be calculated separately for each pension scheme or wholly or partially by average calculation as mentioned in the first paragraph.

section 5-6. Older workers All retirement plans in a joint arrangement to have the same rules for admission of members who have less than 10 years left until retirement age, and the right to Board and inclusion of former service time for these workers when they are busy as members, cf. Enterprise pension law § 3-9 and third paragraph, cf.. section 5-6 first paragraph, LITRA c.

section 5-7. Payment of the premium Is the premium for an insurance sow not paid at year-end or by the expiration of the second term set out in the new premium notice by law 16. June 1989 Nr. 69 about insurance contracts § 14-2, the increase of insurance commitments that it would not award paid cover. The members of the pension scheme shall in the case be notified about this. It can not, however, as a result of such a disappearance repayment of too much pension.
The Ministry may by regulation establish further rules on the payment of the premium.

Chapter 6. Moving section 6-1. Scope and move right the provisions of this chapter apply to moving between pension facilities by: a) pension plans according to the enterprise pension law, b) pension plans subject to the Pension Act c) pension plans according to the defined contribution pension law, d) pension plans covered by Chapter 4, e) other collective pension schemes, f)-free policies, pension evidence, pension capital proof and corresponding individual pension rights expired from the collective pension schemes, g) individual pension agreements (pension insurance and life interest rate contracts, and other pension deals) , h) other life insurance contracts.

Contract as mentioned in the first paragraph, LITRA a to h can be moved to different pension gadgets. With moving meant termination of the contract for the transfer of its assets to a similar contract created in another pension gadgets.
As the pension insurance companies here are considered device, pension companies, banking and management company for mutual funds.
Transmutation, merging and splitting of the pension plan in connection with the removal can be made according to the current rules otherwise. The same applies for merging and conversion of free pension policies, evidence, pension capital proof and other individual pension rights expired from the collective pension schemes.
The Ministry may give further rules to the completion, execution and refinement of the rules in chapter here.

§ 6-2. The relocation of the collective pension schemes For companies that move pension scheme as mentioned in section 6-1 the first paragraph letter a to d or a collective life interest rate scheme, shall apply the rules in § § 6-2 to 6-10.
Relocation needs to include the entire pension scheme. When moving the municipal pension plan covered also scheduled pension rights and funds related to such rights.
The move applies to a company that have a common pension scheme with one or more other companies, to the company and its group of members with the corresponding part of the funds in the pension scheme are separated out from the private pension scheme.

section 6-3. Rights in the new pension scheme and the rights of workers ' pensjonistenes after the move to be determined in the regulations for the new pension scheme.
The new regulations cannot contain provisions that involves the reduction of employees right to earned pension, complete with premium reserve or to the earned pension capital. Retirement pension benefits to be provided with the corresponding premium reserve or retirement capital as at least equal to the right to benefits that applied before the move.
The provisions of paragraph here is do not preclude that the regulations for the pension scheme be changed after otherwise current rules with effect for the earning of the pension by service time after the move, nor that the solidarity funds for the move is managed in whole or part as a separate investment portfolio after otherwise current rules.


section 6-4. Members ' pronunciation right etc. Before undertaking the pension scheme to move, it ensure that members receive the full details of the move by the pension scheme and what rights they will get in the new pension scheme. Avgivende and receiving pension gadgets to make sure that the duties of the entity's information is accurate and complete.
The question of the relocation of the pension scheme shall be submitted to the Steering Group for the pension scheme to the statement.
Members of the pension scheme shall also be given the opportunity to make a statement. By the way can an employee organization make a statement on behalf of its members. Else can be determined in the collective agreement.

section 6-5. Termination. Move fee contract for the pension plan may be terminated with a time limit of two months. Termination shall be made in writing. The requirement of written form does not preclude that the termination can be communicated electronically, if it is used a reassuring method that authenticates the sender and ensures the message content.
The first paragraph does not preclude that it be agreed that the notice deadline shall not expire before at the first quarterly change, half-year shift or season change for pension plans with annual premium calculated according to the rules in section 4-6.
By the end of the time limit for termination goes risks relating to members and retirees in the pension scheme over on the retirement pension scheme moved to the device.
The company should pay a fee to move coverage of the costs that the pension by closing the facility has the contract and transfer the pension plan assets to other pension gadgets. The Ministry may give further rules on moving charges.

section 6-6. The settlement deadline By deadline notice to pension plan pension funds to transfer the facility to the new retirement facility. The settlement deadline is still two months after expiry of the notice deadline when the pension plan assets exceeds 300 mill ENOUGH.
Pension institutions may by agreement determine the deadline for other etteroppgjør than that which follows from the first paragraph.

section 6-7. The calculation of the pension plan assets a performance-based pension funds settlement includes premium reserve to the securing of the earned pension, including premium reserve for disabled people-and etterlatteytelser, as well as additional provisions, pensjonistenes surplus fund and prize fund. Solidarity share of profit in the year move covered also.
In pension schemes with defined contribution pension includes solidarity funds pension capital and deposit fund, as well as solidarity's share of the profit in the year move.
When moving transferred the insurance capital that is associated with the pension scheme estimated at the time of cancellation over the outlet. Solidarity share of profit in the year move forward until the time of cancellation over the outlet are covered too.
Managed pension plan funds in their own or their own investment portfolios, the market value of the portfolio at the end of the notice period to reason by the value calculation. This also applies to ROI and value hedge related to guarantees the portfolios. Enterprise pension law § 11-1 fourth paragraph applies accordingly.

section 6-8. Premium reserve for disability benefits Premium reserve for disability benefits to members who have become disabled prior to the expiration of the notice deadline, to be determined on the basis of the calculation basis that applied for the pension scheme at the end of the notice period. Set out the disability degree added to because even though the disability degree is established after this time.
A member who is on sick leave at the end of the notice period, should be considered here disabled if the disease was then ascertained, have given the right to work avklarings money or disability within one year after the expiry of the notice deadline.
The second paragraph can be waived by agreement between the pension institutions. Such an agreement does not affect the company's or the insuree's rights to avgivende pension gadgets after the second paragraph unless the company agree that the obligations taken over by the receiving pension gadgets.

section 6-9. The settlement way solidarity funds calculated according to the rules in section section 6-7 and 6-8 to be transferred in the money. It can be arranged between pension institutions that settled for funds placed in its own investment portfolio shall be made by transfer of the portfolio.
By funds transfer after the expiry of the time limit to respond cancellation it returns of the funds from the expiration of the notice period and until the day the funds are transferred. The return is calculated after the interest rate on deposits in Norges Bank folio added two percentage units, unless a higher interest rate agreed upon between the pension institutions.
If the settlement deadline under section 6-6 is I have missed, and this is not due to conditions on the forsikringstakers or the receiving pension facility's page, it should do interest by law 17. December 1976 No. 100 about interest rates by late payments and more, from the expiration of the settlement deadline and until the day the funds are transferred. In addition to the incorrect return calculated after the second paragraph.

section 6-10. Application of transferred funds transferred to be applied to the premium reserve the protection of members ' rights and pensjonistenes in accordance with the new regulations for the pension scheme and the calculation basis as this is based on.
Additional accruals, pensjonistenes surplus fund and prize fund will be after the transfer continue to be a part of the solidarity funds and applied after otherwise current rules.
Is transferred to reserve sufficient prize not to ensure the rights of the individual members or retirees after the calculation base in pension facility, moving to, the lack of premium reserve be provided from the pension premium Fund. The rest is covered in the case by transferred additional provisions or by transfers from the enterprise.
Is transferred to reserve members ' prize attached and pensjonistenes right to earned pension larger than needed to ensure their rights after the calculation base in pension facility, moving to, the excess premium reserve is used for a one-time premium for addition to pension benefits. In municipal pension schemes to the excess premium reserve is transferred to the prize fund.
Pension capital and deposit funds in the pension plan with defined contribution pension will be after the transfer is managed in accordance with the new regulations for the pension scheme and the calculation base this in the event builds on the.

section 6-11. Removal of pension rights expired from the collective pension schemes By the relocation of a local government pension scheme to the scheduled pension rights in the scheme and its assets, at the same time be transferred to the new retirement facility. The provisions of section 6-3, section 6-5 third and fourth paragraph, section 6-7 first, third and fourth paragraph, section 6-8, section 6-9 and section 6-10 the first to the fourth paragraph applies accordingly.
When moving the other pension schemes are not transferred pension rights related to free policies, pension or retirement funds evidence evidence to the new retirement facility, unless the right to free policy, pension or retirement funds proof the proof requires that under the rules of section 6-13.

section 6-12. Moving by inclusion of previous service time will be a worker member of the pension plan with Enterprise pension that has provisions on the inclusion of service time, applies the rules in corporate pension law § § 4-11 to 4-13. By the calculation of the funds to be transferred, the terms of section 6-7 first, third and fourth paragraph accordingly. By the way, applies to section 6-5 fourth paragraph, section 6-9 and section 6-10 the first to the fourth paragraph of the corresponding so far they fit.

section 6-13. Removal of fripolise, pension evidence and proof that The pension capital have the right to pension rights attached to fripolise, pension or retirement funds evidence evidence, can move the contract to another pension gadgets. Notice the deadline when moving is one month.
The provisions of formkrav to termination in section 6-5 first paragraph other and third period, risk transition in section 6-5, third paragraph, as well as the settlement time limit in section 6-6 also applies.
By calculation, the settlement and the application of the funds to be transferred, the provisions of § § 6-7, 6-8, 6-9 and 6-10 first, other, fourth and fifth paragraph accordingly. Is transferred to reserve sufficient prize not to secure the rights for a fripolise, the missing premium reserve covered by transferred additional provisions.

section 6-14. Removal of individual pension agreements the an individual pension agreement, or an individual life insurance rate, can move the contract to another pension gadgets. Notice the deadline when moving is one month.
The provisions of formkrav to termination in section 6-5 first paragraph other and third period, risk transition in section 6-5, third paragraph, as well as the settlement time limit in section 6-6 also applies.
By the calculation of the funds to be transferred, the provisions of § § 6-7 and 6-8. Settlement is made according to the rules in section 6-9.
Transferred funds to be applied to ensure the rights for the new pension agreement under the rules of section 6-10 first and second paragraph. Is premium reserve for pension insurance is not sufficient to secure the rights for the new contract, the rest is covered by transfer from the prize fund or in the case of the additional provisions relating to insurance. The excess premium reserve be used to increase the performance, unless the policy holder requires that the funds to be transferred to the prize fund.
Person who is designated as a beneficiary under the pension agreement, the under whether the move is fixed.
For individual pension agreements can take pension avgivende proviso that gadget to calculate a deduction in premium reserve (seleksjonsfradrag). Such a deduction can only be claimed if the device is moved to the pension contract, adds to the reason new health testing services of the insured. The Ministry may give further rules.

Chapter 7. Non-life insurance


section 7-1. Non-life insurance business, etc. Permission to operate business that non-life insurance companies provides access to take over the insurance policies that are regarded as damage insurance. As damage insurance is considered insurance against damage or loss of things, rights or other benefits and insurance against any liability or costs, as well as accident insurance, medical insurance and other insurance that is not life insurance.
A non-life insurance companies do not have access to market or offer assurances against criminal sanctions if the insurance will be in violation of the court order. The Ministry may by regulation or individual decisions determine what is understood with insurance in violation of the court order.

section 7-2. Even insurance schemes A non-life insurance enterprises can manage the administration of even insurance schemes for enterprises and institutions in relation to the entity takes over the insurance for the same enterprise or institution. The King can make exceptions in the regulation from the condition in the first sentence.
The company will take separate account for each even insurance scheme with clearing by each year's shift.

section 7-3. Non-life insurance business sales channels A non-life insurance undertakings shall ensure that their agents meet the requirements arising from the insurance contract law § § 2-1, 2-2, 11-1 and 11-2 by entering into the insurance contract with policyholders.
Entitled to compensation according to the insurance agreement can be reported to the agent. In relation to the insurance contract law § § 8-5 and 18-5 is considered the requirement put forward towards non-life insurance undertaking the day the agent has received the message.

section 7-4. Insurance mediation etc. Insurance law about marshaling Chapter 7 insurance agent business with the exception of the provisions of § § 7-5 and 7-6 also applies to a non-life insurance business the provision of insurance and for the person who supervises the management of the insurance marshaling business.

§ 7-5. Premium tariffs A non-life insurance undertakings to have premium tariffs for standardized products, or product combinations that the entity marketer. Those who have requested such assurances, an easy way to get information from the company about the premium level and conditions on the forsikringstakerens page that after the premium tariffs will be placed on the calculation of premiums. The company will be in the premium tariff or otherwise fix the rules about what conditions on the forsikringstakerens page that will give right to the premium discount or constrain premium addition. The King may by regulation provide further rules on premium rates.
Information on the premium on an insurance shall include the total remuneration the company normally will calculate out to take over the various types of risk covered by the insurance terms and conditions for the various products and product combinations, and to provide services related to the products.
The entity can use different premium to different customer groups when aktuarberegninger or risk statistics provide reasonable basis to add to the reason that the insurance risk customers within the different groups represent, will be different.
The company shall be by the design of the premium rate and by the determination of the prize make sure that: a) the company's premier will stand in a reasonable relationship to the risk that is taken over and the services provided, b) the company's prizes will be sufficient to provide assurance that the commitments for the settlement of the insurance policies are met, and will be reassuring out from the company's finance, c) it will not happen unreasonable differential treatment between products , product combinations or customer groups.

The undertaking shall notify the Financial supervision of stipulated premium tariffs for life insurance policies as mentioned in the general business law § 2-14 the second paragraph and on the principles for the design of such premium tariffs.
Financial audit should lead control to ensure that the premier used, in accordance with the rules of this chapter. The King can prohibit the use of prizes as the King find is ubetryggende or unreasonable.
The King can establish rules on non-life insurance enterprises ' obligation to provide information about products, prizes and the insurance conditions in damage insurance to information scheme for financial services.

section 7-6. Change of premium tariffs A non-life insurance companies can change their premium tariffs, and if so, shall fix the time from which new tariffs will apply.
Shows the company's insurance results that the company's prizes for one or more insurance products not commensurate to the risk that is taken over and the services provided, the entity shall consider whether there is a need for premium change. Entity shall change the prizes that turns out not to be sufficient to provide assurance that the commitments for the settlement of the insurance policies will be fulfilled.
For the settlement of the insurance can not be made a premium increase current before from the first hovedforfall, at least one month after the policy holder has received notification of the change.

section 7-7. The calculation of premiums, etc. The premium should be calculated for one year at a time, and paid in advance each year, unless it is agreed in the course of terminvis payment year, or insurance is less than one year. Requirements for payment of the premium to specify which records are included in the calculation, and educate people about other issues of importance to the size of the prize.
A non-life insurance companies can still deal that the annual premium for an insurance policy should not be increased, or that the annual premium just to be able to forhøyes after set guidelines in the course of a period of up to four years.

section 7-8. Equation arrangement section 7-9. Injury settlement the Ministry may by regulation provide further rules on the valuation services in the non-life insurance undertakings.

section 7-10. Regulations the King can by regulation fix closer to the rules to the completion and refinement of the provisions of the chapter here.

Chapter 8. The exception provisions section 8-1. State This law will not apply to arrangements that are controlled by the State. The King can still provide that this Act partially or completely to apply for Philippine Banks pension fund.

section 8-2. Livestock insurance This law will not apply to the insurance of livestock managed by slaughterhouses or dairies. They will, however, submit annual statement of business to Financial Audit. Financial audit can, if it is required for the sake of forsikringstakerne, decide that also these arrangements shall be subject to this law in whole or in part.

section 8-3. The burial boxes and crates Act help This will not apply to the burial boxes and help boxes that provide a maximum support equal to 12 times the basic amount. These devices can, however, of the financial audit be ordered to send paper on his business to Financial Audit. Financial audit can, if it is required by the account of the eligible to benefits, decide that also these arrangements shall be subject to this law in whole or in part.

section 8-4. Less mutual insurance companies the King can make full or partial exceptions to this law for smaller mutual insurance companies.

section 8-5. Social Security Act, the sea team this provision will not apply to the insurance associations that go under the law 3. July 1953 No. 2 if sea social security team.

section 8-6. Reinsurance the King can make full or partial exceptions to this law for enterprises that only driver return the insurance business.

section 8-7. War risk at Sea King can make full or partial exceptions to this law for enterprises that only driver insurance of the risk of war at sea.

section 8-8. Other exceptions the King can in regulations or by individual decisions make exceptions to the law for the insurance companies which, according to its articles of association can only take over the direct insurance for a specified circle of policyholders, and optionally return the insurance as well.
Financial audit determines in the case of doubt whether a company falls under the first paragraph.

Chapter 9. The criminal provisions of section 9-1. Criminal liability Trust-or officials of the institutions subject to this law and who intentionally or negligently contravenes the law or provision or an order given under the legal authority of the Act or who otherwise contravenes the current regulations for the business, is punishable by fines, or under particularly aggravating circumstances with imprisonment up to 1 year, if the relationship does not go under some stricter penalty provision.
If an order of the authority will not be executed, the competent Ministry decide that those persons and/or the institution, the institution's parent company or the parent company in the Executive institution is a part of, to fulfill the order, shall pay a daily ongoing mulkt to the relationship is directed. Order mulkt are enforceable for disbursements.

Chapter 10. The effective-and transition rules § 10-1. Entry into force the law applies as of the time the King decides. 1 the King can put into effect the individual provisions to different time.
From the time the law takes effect of revocation law 10. June 1988 No. 39 about the insurance business.

section 10-2. Transitional Ministry can provide further transitional rules.
Regulations given in pursuance of law 10. June 1988 No. 39 about the insurance business applies until something else is fixed.

§ 10-3. Changes in other laws from the time the law will take effect the following changes are made in other laws:-