Høring forsikringsvirksomhetsloven §7-7

The Norwegian Ministry of Finance has today circulated for consultation a proposal to amend section 7-7 of the Insurance Activities Act relating to premiums in non-life insurance.

The proposal is to remove a requirement that the insurance premium must be tied up for specific periods of time. This will give Norwegian non-life insurance companies better opportunities to compete with foreign players, for example in the market for insurance of offshore wind development, where it is desirable to enter into contracts with a duration exceeding four years.

Cefor welcomes the proposed amendment, which was first addressed by Cefor in an inquiry to the Ministry in December 2022.

Høring – endring i forsikringsvirksomhetsloven - regjeringen.no