Our firm must comply with the AssurMiFID rules of conduct and offers you the following information in this respect:
1. Offered products and services
1.1. Information on the concept of insurance mediation
“Our firm offers insurance mediation services, which consist of giving advice on insurance contracts, offering, proposing, preparing for and concluding insurance contracts and helping to manage and execute such contracts.”
AlliA Insurance Brokers NV – Register of Legal Entities 0508449056
- Vehicle hull excluding railway rolling stock
- Railway rolling stock hull
- Aircraft hull
- Sea and inland waterway vessels hull
- Transported goods including merchandise, luggage and all other goods
- Fire and natural events
- Other damage to goods
- Motor vehicles third-party liability
- Aircraft third-party liability
- Sea and inland waterway vessels third-party liability
- General third-party liability
- Various monetary losses
- Legal expenses
- Life insurance not associated with mutual funds, except dowry and birth insurance
- Dowry and birth insurance not associated with mutual funds
- Life, dowry and birth insurance related to mutual funds
- Capitalisation operations
- Management of collective pension funds
2. Information on the conflict of interest policy
“The AssurMiFID Rules of Conduct require our firm to establish a written policy for managing conflicts of interest. Below you can find more information on how our firm has implemented this.”
2.1. Legislative framework
The AssurMiFID rules of conduct have been in force since 30 April 2014. They are legally based on the Act of 30 July 2013 strengthening the protection of buyers of financial products and services, the authority of the FSMA and various provisions, and the Royal Decree of 21 February 2014 on the rules for the implementation of Articles 27 to 28bis of the Act of 2 August 2002 on monitoring the financial industry and the financial services to the insurance industry and the Royal Decree of 21 February 2014 on the rules of conduct and regulations established by law for the management of conflicts of interest with regard to the insurance sector.
In accordance with these rules of conduct, our firm is required to establish a written policy on the management of conflicts of interest to provide insurance mediation services.
The legal regulation about conflicts of interest is complementary to the general MiFID legislation. Our firm honours this MiFID legislation by making a loyal, equitable and professional commitment to defend the client's interests in its insurance mediation services.
2.2. What conflicts of interest are there?
As a first step, we have identified potential conflicts of interest in our firm for our conflict of interest policy.
Conflicts of interest may arise between (1) our firm and its affiliates and a client or (2) between multiple clients. The conflicts of interest policy takes into account the specific characteristics of our firm and its group structure.
When assessing potential conflicts of interest, our firm has identified a number of situations that present a significant risk to the client's interests. They are:
- Situations in which profit is made or loss is incurred at the client’s expense
- Situations in which our firm has a different interest in the outcome of the service or transaction
- Situations in which a financial incentive exists to give other clients priority
- Situations that involve the same business operations as the client’s operations
- Situations in which our firm receives compensation from a person other than the client for the provided insurance mediation services
- Situations in which our firm has at least a 10% stake in the voting rights or capital of the insurance company or companies
- Situations specific to our firm, for example group structures (such as bancassurance and assurfinance) or secondary operations (such as bank agents and estate agents).
2.3. What measures does our firm take
Our firm has many measures in place to ensure that the client’s interests come first.
- An internal instruction note
- An adjusted remuneration policy
- A policy ensuring that affiliated persons only mediate for insurance contracts when they know the contracts’ essential characteristics and are able to explain them to the clients
- A policy that reserves our firm’s right to refuse the requested service if there is no concrete solution to a specific conflict of interest with the sole objective of protecting the client's interests
- An arrangement concerning the receipt of benefits
- A policy to ensure that all information provided by our affiliated persons is accurate, clear and not misleading
- Our firm's conflict of interest policy will be amended and/or updated where necessary.
2.4. What is the procedure?
2.5. Specific transparency
When in a specific situation our measures cannot offer a sufficient guarantee, our firm will inform you about the general nature of the conflict of interest and/or of its sources so that you can make a well-considered decision. You can always contact us for more information.
“In principle, we receive a fee from the insurance company for our insurance mediation services, which is part of the premium you pay as a customer.
There may be another fee with regard to our firm's insurance portfolio with the relevant insurance company or additional services provided by our firm. For more information, contact our firm or consult your customer area on our website.
In other cases, we receive a fee from you, the customer, for our insurance mediation services.”