No. 1 in Europe

For property insurances and machinery breakdown insurance for the Transport, Agriculture and Manufacturing industries.

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Industrial Insurance Group Belgium

Dear visitor,

We are pleased to present to you the Industrial Insurance Group Belgium. Insurances are our core business. Insurances with added value, because security is our main concern in everything we do, motivating us to fulfil our mission, day after day. Which mission, you may ask. Here it is:

  • With our leading market position, we aim to be an excellent service provider and a landmark in the European insurance landscape.
  • We aim to build up a deep and long-term relationship with all of our partners.

Welcome

French

Dutch

MIFID

Better protection from now on with MiFID

Since the end of April 2014, the MiFID for banks also applies to the insurance industry. As a result you, the consumer, will be better protected in future.

What does ‘MiFID’ mean?

MiFID stands for the ‘Markets in Financial Instruments Directive’, the name of the European directive that applies since 1 November 2007. The directive contains a number of rules to better protect the clients of banks. Since 30 April 2014, a number of these European directives also apply to the insurance industry, via the Belgian ‘Twin Peaks II’ Act.

The MiFID-rules in short:

– For capital and investment-based insurances, the insurers must demonstrate that they have checked that the product matches their customer (= duty of care), for instance: whether the customer has sufficient knowledge and experience.

  • Insurers must demonstrate that they have acted in the customer’s best interest, for instance: that the product meets the customer’s needs.
  • Insurers must also check that a product is suitable, for instance: that is suits the financial situation or the risk profile of their customer.
  • Insurers and intermediaries must provide correct, clear, complete, timely and not misleading information on their products.
  • The intermediary has to be transparent with regard to its fees, including the commission.
  • Insurance corporations and intermediaries must avoid conflicts of interest, and if these
    do arise, notify their customer explicitly.

Our MiFID-customer brochure provides more information on the new MiFID-rules and on how Industrial Insurance Group Belgium N.V. (Plc) deals with them.

Corporate Insurances

Transport
Agriculture, working machines and equipment
Industrial machines