1.1. Historically, as today, the Danish insurance community has been subjected to a far greater degree of official supervision than their U.K. colleagues are accustomed to. Insurance can only be written if the Forsikringsraad (Insurance Supervisory Board) recommends that the applicant office be granted a concession to do so. In particular, the Forsikringsraad will have to be satisfied that the office's premium rates are adequate. At a time when the U.K. is moving towards closer supervision, it is particularly interesting and instructive to examine a functioning supervisory system. (Section 6 of the present paper deals with this aspect of insurance in Denmark.)