The company, Tankafritt.nu, says that 140 kronor a year is all it costs for them to promise to cough up if a court convicts you of illegally sharing music or films over the internet.
Fines in Sweden have risen to around 16,000 kronor, although there have so far been only three convictions under the law banning file sharing introduced at the beginning of 2005.
Tankafritt’s founder Magnus Bråth says that he’s offering the insurance to make a point.
“I was upset by the new law, and wanted to make a point in the debate,” he told The Local.
Bråth says his new venture does not have any backers, but he is certain that he will be able to cover any payouts.
But with so few convictions for file-sharing, why would anyone join his scheme?
“There have been very few convictions in file sharing cases so far, but there will be more, and the Anti-Pirate Bureau is actively chasing people.”
He insists that his company isn’t encouraging people to do anything illegal.
“Tankafritt is not encouraging file dealing. We have received advice that what we are doing is perfectly legal,” he said.