Cost & Charges

Information on costs and charges - Document for broker

In accordance with the FSMA “costs and charges” regulation which came into force on 01.01.2018, an overview of the estimated acquisition and administrative costs can be found hereafter. Depending on the coverages and limits that the policyholder specifically wishes to underwrite, a combination of the different percentages may apply.
The estimates in EUR for a specific policy are mentioned on the premium invoice.

Class

Description

% Acquisition Costs

% Administration Costs

       

1

Accidents

12,9%

7,3%

2

Sickness Guaranteed Income Individual

13,9%

7,3%

2

Sickness Other Contracts Individuals

15,0%

7,3%

2

Sickness Other Contracts Collective

18,4%

7,3%

3

Land vehicle body

5,8%

8,1%

10

Car Liability

2,9%

8,1%

13

Public Liability

8,3%

9,3%

13

Professional Liability Other

12,7%

8,0%

13

Pollution Liability

5,9%

0,7%

13

Products Liability

8,0%

9,2%

13

Liability Other

1,8%

9,2%

16

Miscellaneous Pecuniary Losses

36,4%

7,5%

18

Assistance

0,5%

0,0%

Some classes of insurance are not in the list. The reason may be that we only underwrite large risks in these classes (the category of “large risks” is excluded from the scope of application of the Costs & Charges Regulation).

 

Disclaimer
Please note that comparing different insurance contracts should not be limited to comparing the estimated costs and charges of each contract, but should also take into account other elements such as the scope of cover, the amount of any deductibles, or any exclusion clauses. The estimates set out above make it easier to understand the breakdown of costs and the portion of premium used to cover the risk insured under the insurance contract. Following the deduction of taxes and other charges as well as acquisition and administrative costs, the remaining balance represents the portion of premium used to perform the contractually agreed services and to cover costs not mentioned above (including the aggregated costs of handling claims). These estimates are calculated on the basis of accounting data from the insurance company's previous financial year, as approved at its shareholder meeting.