Danish authorities fine 14 insurers for gender-based price discrimination

Some 14 Danish insurers including units of Topdanmark have been slapped with fines of up to kr1.4 million ($200,000) for gender-based price discrimination and gender-based policy exclusions, including for pregnancy and childbirth, the Danish FSA said in a statement.

Eight companies have already agreed to pay the fines (AP Link Livsforsikring, Danica Pension, Europæiske Rejseforsikring, IF Skadeforsikring, LB Forsikring, PFA Pension, Topdanmark Forsikring and Topdanmark Livsforsikring). The remainder have until February 1 to do so or will head to court.

The criminal cases against the 14 insurance companies have been under investigation since July 2021, when the FSA reported the companies to the police.

Fines of between kr100,000 and kr1.4 million were set based on the companies' net turnover.

"I am very pleased that we have been able to complete the investigation and provisionally settle all 14 cases with penalty notices so quickly," says Niels Kjærsgaard, Head of Counsel at the National Unit for Special Crimes.

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