Police to Probe Danish Pension Firms in Discrimination Case
(Bloomberg) -- Several of Denmark’s pension and insurance companies face police probes and fines, after the country’s financial watchdog said they discriminated against pregnant women, according to the industry group representing them.
A number of firms have received notice from the Financial Supervisory Authority that they’re being reported to police for the violations, Insurance & Pension Denmark said in a statement. The association didn’t name the firms being targeted.
The referrals to police by the FSA follow local media reports that corners of the industry were routinely denying services to pregnant women, which represents a clear breach of existing rules. The trade group said the companies have apologized and are now working to compensate the women.
In a separate comment, the FSA said it expects to publish the results of its investigation “before the summer holidays.” Until then, the watchdog is unable to comment, said Carsten Brogaard, vice director overseeing the pension and insurance industry at the FSA.
The discrimination included the failure of firms to provide insurance coverage for physical therapy to pregnant women, according to the allegations. The Danish agency that handles such complaints this year ruled against a company for refusing to pay for such services for a pregnant client, according to a March report in Jyllands-Posten.
Among companies that face police investigations are Codan A/S, Topdanmark A/S and AP Pension A/S, according to FinansWatch, which said the firms in question had confirmed its reporting.
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