Interest on Claims

The Nordic Plan allows the assured to claim interest from one month after the date on which notice of the casualty was sent to the insurer, ref. Cl. 5-4. In the case of recoverable disbursements, interest runs from the time of payment by the assured. The rate of interest is six month CIBOR, NIBOR or STIBOR + 2 %. This compensates the assured for the inflation loss and is valuable even in times with low interest rates.

ICTH do not allow interest on insurance claims.