Denmark's Minister of Industry, Business and Financial Affairs is proposing a new bill that seeks additional insurance coverage for ships of the country's merchant navy in the event of war.
Minister Morten Bødskov said the bill will make around DKK6 billion (US$910 million) available to the country's War Insurance Institute, which is intended to act as a reserve coverage provider should commercial markets collapse due to war, geopolitical tensions, or other significant external factors.
Mr Bødskov said that, "global tensions and war on European soil," have driven the government to exercise due diligence in ensuring the Danish merchant fleet will continue to operate.
The bill will be subject to public consultation with respones to be submitted no later than June 2, 2025. The authors of the bill then expect to present it to Parliament by October 8.
The Danish merchant fleet had an estimated insured value of DKK135 billion (US$18.6 million) as of 2023.
