Precontractual Information

At AIG Belgium, we believe that you deserve to be treated in a courteous, fair and prompt manner. Our goal is to provide an excellent service to all of our customers and clients.

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.

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.

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.

for potential policyholders residing or located in Luxembourg.

The Insurance Distribution Directive (IDD) and the Luxembourg law adopting the Directive (the “IDD legislation”) impose conduct rules 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.

This precontractual information notice is for potential policyholders residing or located in Luxembourg.

A. Your Insurer and its supervisory authority

Your insurer is AIG Europe SA[1], Belgian branch (hereafter: AIG). AIG Europe SA is registered in Luxembourg. Company number: RCS n° B 218806. Registered Office: 35D, Avenue John F. Kennedy, 1855 Luxembourg. Belgian branch office located at Pleinlaan 11, 1050 Brussels, Belgium. RPM/RPR Brussels - VAT BE 0692.816.659.

AIG Europe SA is an insurer authorised by the Luxembourg Ministry of Finances and under the control of the Commissariat Aux Assurances, 11 rue Robert Stumper, L-2557 Luxembourg, Tel .: (+352) 22 69 11 - 1, caa@caa. lu, http://www.caa.lu/. 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 www.aig.lu

B. Other professionals dealing with you

In Luxembourg, AIG offers its products mainly via independent brokers who also need to comply with the IDD legislation. Your broker will provide you with his identity and credentials. 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. Claims handling services or some other services may, from time to time, be provided by independent service providers. You can find more details hereon, where relevant, in the policy wording.

C. 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 French or, for some products, English.

You may communicate with us via e-mail, post, fax 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.

D. Advice

As an insurer, AIG does not provide any advice regarding the proposed/sold insurance products.

E. Offer, quote and general and/or specific conditions

For an offer, quote, the general and/or specific conditions or any other pre-contractual or contractual information with detail of:

• the insurance coverages and options
• the limitations and exclusions
• the duration of the insurance policy
• the premium of each cover (principal or accessory) and the modalities and payment terms of the premium
• the complementary fees (if any) and taxes
• the modalities of exercising a cancellation right, including the penalties
• the existence or absence of a withdrawal/renunciation right, the duration and modalities of exercising such renunciation right, including the penalties

You can contact your broker. You can also contact AIG directly via e-mail, post, fax and phone:

• By e-mail: info.belgium@aig.com
• By phone: 0032 2 739 9000
• By fax: 0032 2 739 9393
• By post: AIG Europe SA, Pleinlaan 11, 1050 Brussels, Belgium.

This information will also be included in the general and specific conditions of the insurance policy. It is necessary to examine these, as well as all other relevant documents with contractual and pre-contractual information before concluding an insurance policy.

F. Applicable law and competent jurisdiction

Unless otherwise provided in the insurance policy, the pre-contractual relations and the insurance agreement shall be governed and construed by the Luxembourg law if you reside or are located in Luxembourg and the Luxembourg courts shall have exclusive jurisdiction for any dispute regarding the precontractual relations, the execution and/or interpretation of an insurance agreement.

G. Complaints handling

At AIG we believe that you deserve to be treated in a courteous, fair and prompt manner. Our goal is to provide an excellent service to all of our customers. If despite our efforts, there is ever an occasion when you feel let down, then please let us know immediately as we really value your feedback. AIG takes all customer complaints seriously. You can address your complaints to us:

• By e-mail: belgium.complaints@aig.com
• By phone: 0032 2 739 9690
• By fax: 0032 2 739 9393
• By mail: AIG Europe SA, Complaints, Pleinlaan 11, 1050 Brussels, Belgium

Please always mention your policy number and/or your claims file number and, if available, the name of your contact person with AIG.

Mediation

Complaints relating to the insurance policy can also be addressed in writing to:

• The Commissariat aux Assurances 11 rue Robert Stumper, L-2557 Luxembourg, Tel.: (+352) 22 69 11 - 1,  caa@caa.lu, http://www.caa.lu/.

As well as for consumers to:

• Service National du Médiateur de la consommation, Ancien Hôtel de la Monnaie,6, rue du Palais de Justice, L-1841 Luxembourg, (+352) 46 13 11, info@mediateurconsommation.lu, www.mediateurconsommation.lu
• Médiateur en Assurances, Association des Compagnies d'Assurances et de réassurances du Grand-Duché de Luxembourg (ACA), 12, rue Erasme, L – 1468 Luxembourg, (+352) 44 21 44 1, mediateur@aca.lu,  https://www.ulc.lu/fr/organes/detail.asp?T=2&D=descr&ID=6

Filing a complaint does not prejudice your possibility to start legal proceedings.

H. How we use Personal Information

Please find here our Privacy Policy.

 

_{The contents of this document are for information purposes only and can be changed without further notice, in relation to new legislation and/or regulations. This document can not be relied upon, in any circumstances, to claim insurance coverage or any other rights. It can not be considered as an advice or an offer to contract. Products may vary from country to country and may not be available in each European country. Only the insurance policy’s terms and conditions provide an accurate, binding, description of the cover. Policy conditions are available on request.}

_{[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.}