The “MiFID” legislation (also known as “Twin Peaks”) and the “IDD” legislation (pursuant to the insurance distribution directive) impact the Belgian insurance sector by imposing conduct rules and organisational requirements on insurers and insurance intermediaries to better protect policyholders. These conduct rules and requirements are based on the principle that insurance intermediaries and insurers must act in the best interests of their customers in an honest, fair and professional manner when insurance distribution services are offered.
The Belgian branch of AIG Europe SA fully supports this principle, and this document has been drafted to notify our customers of the same.
A. Your Insurer AIG and its supervisory authority
Your insurer is the Belgian branch of AIG Europe SA1 (AIG). AIG Europe SA is registered in Luxembourg with company number: RCS n° B 218806 whose registered office is at 35D, Avenue John F. Kennedy, 1855 Luxembourg. The Belgian branch office is located at Pleinlaan 11, 1050 Brussels, Belgium. RPM/RPR Brussels - VAT BE 0692.816.659.
AIG Europe SA has been authorised as an insurer by the Luxembourg Ministry of Finances, and is under the control of the Commissariat Aux Assurances, 7, boulevard Joseph II, L-1840 Luxembourg, GH Luxembourg, Tel: (+352) 22 69 11 - 1, email@example.com, http://www.caa.lu/. AIG Europe SA has also been authorised to establish branches in several countries, including Belgium. The Belgian branch of AIG Europe SA is registered with the National Bank of Belgium (NBB) under the number 3084. The NBB is located at de Berlaimontlaan 14, 1000 Brussels.
The annual reports on the solvency and financial situation of AIG Europe SA, if available, can be found at http://www.aig.lu/.
In Belgium, AIG offers its products mainly via independent brokers, who also need to comply with the Mifid/IDD legislation. AIG compensates these brokers through commissions which are a percentage of premium, at the time of each purchase and renewal of a particular insurance policy. Outside of specific insurance transactions, AIG may also, from time to time, obtain services from brokers with whom it works, for which it pays a fee.
1 On 1 December 2018 AIG Europe Limited, a company incorporated under the laws of England and Wales with its registered office at The AIG Building, 58 Fenchurch Street, London EC3M 4AB, United Kingdom and authorized by the UK Prudential Regulation Authority, has transferred its insurance portfolio underwritten by its European branches (excluding the United Kingdom) to AIG Europe SA via a cross-border merger.
B. Communicating with AIG
Unless AIG has informed you otherwise, you may communicate with AIG and obtain information in the language in which your insurance policy is written. The policyholder has in principle the choice between Dutch, French or, for some products, English.
You may communicate with us via e-mail, post and phone (see the “contact” section below). If you contact us or your broker via e-mail, we will assume that you specifically opt for a communication (including for the provision of information) via electronic means, unless you advise us otherwise.
AIG does not provide any advice regarding proposed or sold insurance products.
D. Contact and Complaints Handling
For information or questions regarding our products or regarding your cover you may contact your broker.
You may also contact AIG directly:
· By e-mail: firstname.lastname@example.org
· By phone: 02 739 9000
· By post: AIG Europe SA, Pleinlaan 11, 1050 Brussels
You will find hereunder the procedure as well as a list of the competent departments and bodies to handle a possible complaint:
I. For professionals and consumers
1) AIG (Belgium branch) complaints department
AIG wishes to treat you in a courteous, fair and prompt manner. If, despite our efforts, there is ever an occasion when you feel let down by us, you may send your complaints to our complaints department:
• Email: email@example.com
• Tel: 02 739 9690
• Post: AIG Europe SA, Complaints, Pleinlaan 11, 1050 Brussels
In order to allow us to handle your complaint efficiently, please provide your policy number and/or your claims file number and, if available, the name of the person you have been dealing with in AIG. You will also find hereunder – for information purpose only – response times and steps following which your complaint will be handled:
|Non-binding response times||Steps|
|10 business days after receipt of your complaint||Send an acknowledgment of receipt|
|30 days after receipt of your complaint||Send the response letter
unless the complaint has not been settled due to its complexity. In this case you should receive an interim letter (see below).
|30 days after receipt of your complaint||
Send the interim letter
only if the response letter could not have been sent within 30 days following receipt of the complaint. The interim letter will explain why a response has not yet been provided and when you expect to have a response.
2) Ombudsman des Assurances
If AIG does not offer a satisfactory solution and to the extent the complaint relates to an insurance contract subject to Belgian law, you can also file your complaints to the Ombudsman des Assurances:
Tel: 02 547 58 71
Fax: 02 547 59 75
Post: Ombudsman des Assurances, square de Meeus 35, 1000 Brussels
Remark: Filing a complaint does not prejudice your ability to start legal proceedings.
II. For consumers only
In the framework of “out of court resolution” process, consumers - if they are not satisfied with the response or in the absence of response after 90 days - may also file their complaints to the following bodies:
1) Complaints department of AIG Headquarters in Luxembourg
Email : firstname.lastname@example.org
Tel : +352 2700 72 01
Post : AIG Europe SA « Service Réclamations Niveau Direction », 35D, Avenue JF Kennedy, L-1855 Luxembourg - Grand Duché de Luxembourg
Website : www.aig.lu
2) Commissariat aux Assurances
Email : email@example.com
Tel : (+352) 22 69 11 - 1
Post : 7, boulevard Joseph II, L-1840 Luxembourg, Grand-Duché de Luxembourg,
Website : www.caa.lu
3) Service national du médiateur de la consommation
Email : firstname.lastname@example.org
Tel : (+352) 46 13 11
Post : Ancien Hôtel de la Monnaie, 6, rue du Palais de Justice, L-1841 Luxembourg
Website : www.mediateurconsommation.lu
4) Médiateur en Assurances
Email : email@example.com
Tel : (+352) 44 21 44 1
Post :Association des compagnies d'assurances et de réassurances du Grand-Duché de Luxembourg (ACA), 12, rue Erasme, L - 1468 Luxembourg
Website : www.aca.lu
All requests to the CAA or to one of the Luxembourg mediator bodies must be filed in Luxembourgish, German, French or English.
III. For consumers only in case of complaint related to an insurance contract concluded online
For the sake of completeness, please alos note that, if the insurance contract has been concluded online, you may also use the European Commission’s platform for Online Dispute Resolution (ODR) using this link.
E. Conflicts of Interest Policy
In order to protect your interests, AIG has implemented a policy to avoid potential conflicts of interest that may arise between AIG and its customers or amongst its customers, and that could potentially have a negative impact on you.
The most important aspects of our conflicts of interest policy are summarised below.
1. What is a conflict of interest?
A conflict of interest, in relation to the offering of insurance distribution services, can be defined as follows:
• A situation in which the interests of AIG or one of the members of the AIG group (including its directors, effective leaders, employees, contractors, etc.), and those of its customer(s) differ or are opposed to one another; or
• A situation in which the interest(s) of a (group of) customer(s) differs from the interest(s) of another (group of) customer(s).
2. How are conflicts of interest managed?
(i) Identification of conflicts of interest
Managing conflicts of interest efficiently is only possible where potential conflicts of interest that may arise are known. AIG therefore identifies situations that could, in the context of the provision of insurance distribution activities, lead to a conflict of interest. This is managed by the compliance department (with the cooperation of other departments).
Examples of potential conflicts of interest include:
• Making profit or suffering loss to the detriment of customers;
• An interest at the result of an insurance distribution service or transaction that differs from the interest of the client;
• A financial or other motive giving preference to the interests of other customers instead of the interests of the customer concerned;
• The abuse of a customer’s confidential information;
• The receiving or the offering of inducements (money, goods and/or services) and/or gifts that could jeopardize neutrality;
• The offering of insurance policies that do not meet the requirements and needs of the customer;
(ii) Measures to manage potential conflicts of interest
We expect all our employees to adopt an independent position when dealing with customers and as such, our employees do not receive any compensation or bonus linked to the sale of an insurance product.
To avoid a potential conflict of interest harming your interests or those of other customers, AIG has adopted appropriate organisational measures and compliance policies regarding, amongst others, the exchange and use of information, the training and supervision of its employees and the prevention of improper influencing, offering and/or receiving of inducements and/or gifts.
(iii) Notification of conflicts of interest
In the event that it would be impossible to adequately manage a conflict of interest or if the adopted measures would not sufficiently protect the interests of the customer, AIG will promptly notify the customer about the existence and details of the conflict of interest to allow the customer to take an informed decision as to whether they wish to continue to use the relevant distribution service.
(iv) Registration of conflicts of interest
Conflicts of interest are registered with our compliance department.
(v) Training and communication
AIG provides its employees with training regarding the management of conflicts of interest and the rules and procedures are communicated to employees.
(vi) Policies and codes of conduct
The AIG group of companies has adopted codes of conduct and compliance policies that cover different activities and subject matters in relation to other specific obligations (e.g. policies on gifts and entertainment etc.). These codes of conduct positively contribute to and compliment the management of conflicts of interests.
AIG also monitors the remuneration and/or inducement that it may offer to or receive from its customers and/or third parties in relation to its insurance activities. It is important to AIG that such remuneration and/or inducement are always in the best interest of the customer and are only granted or received to the extent that they do not have a negative impact on the service to the customer.
F. Would you like more information?
For more information, especially regarding our conflicts of interest policy, you can contact us in writing by:
• E-mail: firstname.lastname@example.org
• Post: AIG Europe SA, Belgian branch, Compliance department, Pleinlaan 11, 1050 Brussels.
Copyright © 2018 AIG Europe SA
Last update: April 23, 2020