On Jan. 26, NOR GVT announced partial entry into force of provisions.
NOR GVT issued Royal Decree 110 announcing pertial entry into force of Act 59/2022 on amendments to Natural Damage Insurance Act, etc.
Re establishment of natural damage capital in Norwegian natural damage pool, etc.
Overview
Partial entry into force of Act 59 of Jun. 17, 2022 on amendments to Natural Damage Insurance Act etc. (natural damage capital in Norwegian Natural Damage Pool, etc.).
It refers to Part I (Natural Damage Insurance Act) §4 and part VI provision no 3.
Latter says changes in Natural Damage Insurance Act §4 in Part I apply from, including first full claim year in insurance companies after the provision comes into force.
Effectiveness
The referred to parts of Act 59/2022 enter into force on Jan. 1, 2025.
Regulators
NOR GVT
Entity Types
Ins
Reference
OG 2024-0077, 1/26/2024; Act 59/2022; Citation: Royal Decree 110;
