Compensation and insurance

In most jurisdictions as in Belgium a general law on land insurance exist and specific laws on marine insurance, while others integrate the different types.  The activity of insurer, reinsurer, (re)insurance broker, insurance intermediary, insurance agents, claims handlers are subject to obtaining a license of the regulatory body.

The regulatory framework for banking, financing and insurance activities aims i.a. to protect consumers from incompetent providers.  The regulatory bodies further play a role in case of transfer of insurance portfolio, merger and acquisition, or actions in insolvency and so on.

Within the EEA (European Economic Area), following the principle of freedom of location of services, the license obtained in one member state will remain binding but certain formalities remain necessary.  In-house knowledge of the insurance sector, as is the case with A-LAW, has the important advantage that the relationships between the different actors in the insurance industry are known and considered with utmost care to the benefit of A-LAW’s principals. 

More specifically on insurance law matters, A-LAW has experience in domestic and cross border markets with:

Guidance of non-EEA and EEA undertakings active in obtaining the needed licenses, transfers of insurance portfolios, acquisition of existing undertakings active in the finance and insurance sector and so on.

Claims instituted or provision of defense acting on behalf of  the insured, third party,  insurance agent or broker, insurers, claims settling and recovery agents in Belgium, Europe and Interntional related to:

• accident insurance
• traffic infringements
• legal aid
• liability insurance (see also traffic law)
• hospital and medical practitioners insurance
• cargo and hull insurance
• DSU (delay in start-up) insurance or advanced business interruption
• stock and transit insurance
• motor vehicle insurance
• property insurance
• life insurance
• credit insurance
• NVOCC liability insurance
• product liability insurance
• professional liability insurance
• management insurance
• civil liability and exploitation risks insurance
• parental or family liability insurance
• all risk insurance
• theft, fire and natural disasters (flood, storm) insurance
• strike and riots insurance
• and so on.