IDD
Insurance Distribution Directive (IDD)
What is IDD?
The Insurance Distribution Directive (IDD) is a European directive that comprises rules governing the distribution of insurance. The aim of the IDD is to ensure that everyone involved in the distribution of insurance follows the same rules. This directive constitutes a new phase in the harmonization of the European insurance market.
The IDD regulates the distribution services for insurance products. One of its main objectives is to provide a set of rules aimed at strengthening consumer protection. The IDD requires to abide by three over-arching principles when distributing insurance products:
- Act honestly, fairly and professionally in a way that best serves your interests.
- Provide you with information that is accurate, clear and not misleading. This information is meant to enable you to take informed decisions.
- Take account of your individual situation, and in particular your demands and needs.
Product oversight and governance obligations
Within Cigna Healthcare we set out standards for designing, approving, marketing, distributing, monitoring and reviewing products developed.
1. Communications
Various communication channels are available to you if you wish to contact us: phone, appointments at our offices, fax, website and email.
2. Languages used
Our working languages in the context of this legislation are the following: Dutch, French and English.
3. Registration with the supervisory body
Our firm is registered under number 13799 A-R in the category ‘insurance intermediary of the Register of Insurance intermediaries maintained by the FSMA, which is domiciled at Congresstraat 12-14, B-1000 Brussels. You may visit the website www.fsma.be for additional information.
4. Authorised activities
Our firm is authorised to mediate with respect to insurance and re-insurance products in the following classes:
GROUP OF ACTIVITIES |
COMMISSION RATES (%) USUAL INDICATORS (BANDWIDTH) |
|
| 01a | 'Accidents except accidents at work' Act | 15 - 25% |
| 01b | 'Accidents at work' Act | 5-10% |
| 02 | Illness | |
| 03 | Land vehicles | 12,5 – 19% |
| 04 | Railway rolling stock | 12, 5 - 17,5% |
| 05 | Aircraft | 8 – 12% |
| 06 | Ships (sea, lake, river and canal vessels) | 12, 5 – 17, 5% |
| 07 | Transported goods | 12, 5 – 17, 5% |
| 08 | Fire and natural forces | 15 – 27 % |
| 09 | Other damage to goods | 15 – 20% |
| 10a | Mandatory CL, vehicle | 15 – 20 % |
| 10b | Carrier CL | |
| 11 | Aircraft CL | |
| 12 | CL, Seagoing and inland shipping vessels | |
| 13 | General CL | 15 – 20% |
| 14 | Credit | 2 – 5% |
| 15 | Deposit | 2 – 5% |
| 16 | Sundry financial losses | 10 – 17, 5% |
| 17 | Legal assistance | |
| 18 | Emergency assistance | |
| 21 | Life | 2 - 5% |
| 22 | Marriage and birth insurance | 2 - 5% |
| 23 | Life with investment trusts | |
| 24 | Permanent health insurance | / |
| 25 | Tontine arrangements | / |
| 26 | Capitalisation | |
| 27 | Pension funds | 3% |
| 28 | French Insurance Code: Book IV, volume 4, chapter I | 4 – 6 % |
| 29 | Arrangement: length of life of the person | 2 – 22 % |
5. Access to extrajudicial complaint settlement
We do everything necessary to ensure your satisfaction. In case of problems or questions, we are at your disposal. If your complaint has to do with the performance of our services and we have not been able to resolve it jointly, we kindly ask you to contact a staff member.
At a later stage, and if strictly necessary, you may contact the ‘Insurance Ombudsman’ department, which is domiciled at the following address:
Square de Meeûs 35, B-1000 Brussels
Tel.: +32 (0)2 547 58 71
Fax: +32 (0)2 547 59 75
info@ombudsman.as
www.ombudsman.as
6. Management of conflicts of interest
As member of the BVVM-UPCA, we follow the rules and principles that have been accepted by our professional federation at a sectoral level. Click here for more information about the management of conflicts of interest.
7. Remuneration
As member of the BVVM-UPCA, we follow the rules and principles that have been accepted by our professional federation at a sectoral level. Click here for more information about our remuneration policy.
