Norwegian Finanstilsynet amended section 3-1 of the Insurance Mediation Regulations to increase the minimum coverage amounts for mandatory liability insurance held by insurance intermediaries, in line with EEA directive obligations. The new minimum requirements are EUR 1,564,610 per claim, with annual aggregate limits of EUR 2,315,610 for insurance mediation firms with 10 or fewer insurance intermediaries and EUR 4,514,170 for firms with more than 10 intermediaries. The updated insured sums take effect on 18 August 2025, and firms that do not meet the new requirements are expected to adjust by the deadline.
Norwegian Finanstilsynet 2025-07-02
Norwegian Finanstilsynet raises minimum liability insurance for insurance intermediaries to EUR 1.56m per claim and up to EUR 4.51m per year
Norwegian Finanstilsynet has amended section 3-1 of the Insurance Mediation Regulations to increase the minimum coverage amounts for mandatory liability insurance for insurance intermediaries, aligning with EEA directive obligations. The new minimums are EUR 1,564,610 per claim, with annual aggregate limits of EUR 2,315,610 for firms with 10 or fewer intermediaries and EUR 4,514,170 for larger firms.