Our agency is required to comply with the “AssurMiFID rules of conduct” and hereby provides you with the following information in this regard:
1. Products and services offered
1.1. Information on the concept of insurance intermediation
Our agency offers insurance intermediation services, i.e., activities consisting of advising on insurance contracts, offering, proposing, or carrying out preparatory work for the conclusion of insurance contracts, concluding insurance contracts, or assisting in the management and execution thereof.
1.2. Branch numbers and titles
1: Accidents;
2: Illness;
3: All damage to land vehicles (except rail);
4: All damage to rail equipment;
5: All damage to aircraft;
6: All damage to sea and river vessels;
7: Goods in transit, including merchandise, luggage, and other goods;
8: Fire and natural forces;
9: Other damage to property;
10: Motor vehicle liability;
11: Aircraft liability;
12: Marine and river vessel liability;
13: General liability;
14: Credit;
15: Surety;
16: Miscellaneous financial losses;
17: Legal protection;
18: Assistance;
21: Life insurance not linked to investment funds, except endowment and birth insurance;
22: Endowment and birth insurance not linked to investment funds;
23: Life, endowment and birth insurance linked to investment funds;
26: Capitalization operations;
27: Management of collective pension funds.
1.3. Policy terms and conditions: see downloadable documents
2. Information on the conflict of interest management policyAssurMiFID rules of conduct require our agency to develop a written policy for managing conflicts of interest. Below you will find more information on how our agency applies this policy.
INFORMATION ABOUT OUR AGENCY'S CONFLICT OF INTEREST MANAGEMENT POLICY
2.1. Legislative framework
Since April 30, 2014, the “AssurMiFID rules of conduct” have been in force. They are based on the law of July 30, 2013, which aims to strengthen the protection of consumers of financial products and services and the powers of the FSMA and various provisions, as well as on the Royal Decree of February 21, 2014, on the rules for the application of Articles 27 to 28bis of the Act of August 2, 2002 on the supervision of the financial sector and financial services in the insurance sector, and the Royal Decree of February 21, 2014 on the rules of conduct and rules for managing conflicts of interest provided for by law for the insurance sector.
In accordance with these rules of conduct, our agency is required to develop a written policy for the management of conflicts of interest when providing insurance intermediation services.
The legal regulations concerning conflicts of interest supplement the general MiFID constitution. Our agency complies with this constitution by acting loyally, fairly, and professionally in the interests of the client when providing insurance intermediation services.
2.2. What conflicts of interest?
As part of our conflict of interest management policy, our agency has initially identified potential conflicts of interest within our organization. Conflicts of interest may arise between (1) our agency and its related parties and a client or (2) between several clients. The conflict of interest management policy takes into account the specific characteristics of our agency and its potential group structure.
When assessing potential conflicts of interest, our agency has identified situations that present a significant risk of harming the client's interests, such as:
Situations where a profit is made or a loss is incurred at the expense of the client;
Situations where our agency has another interest in the outcome of the service or transaction;
Situations with a financial incentive to give priority to other clients;
Situations where the same activity as that of the client is carried out;
Situations where our agency receives remuneration from a person other than the client for the insurance intermediation services provided;
Situations where our agency holds at least 10% of the voting rights or capital of the insurance company or companies;
Situations where the insurance company or companies hold at least 10% of the voting rights or capital of our agency.
2.3. What measures does our agency take?
Our agency takes numerous measures to ensure that the client's interests come first.
These include:
An internal instruction note;
An appropriate remuneration policy;
A policy ensuring that related persons only act as intermediaries for insurance contracts whose essential characteristics they are familiar with and are able to explain to clients;
A policy reserving our agency's right to refuse to provide the requested service in the absence of a concrete solution to a specific conflict of interest, with the sole aim of protecting the client's interests;
A regime concerning the receipt of benefits;
A policy ensuring that all information provided by our related persons is correct, clear, and not misleading.
If necessary, our agency's conflict of interest management policy will be amended and/or updated.
2.4. What is the procedure?
2.5. Specific transparency
When, in a specific situation, our measures cannot offer sufficient guarantees, our agency will inform you of the general nature and/or sources of the conflict of interest so that you can make an informed decision. You can always contact us for more information.
3. Remuneration
For our insurance intermediation services, we generally receive remuneration from the insurance company, which is part of the premium that you, as a customer, pay.
In addition, remuneration may be linked to our agency's insurance portfolio with the insurance company concerned or for additional tasks performed by our agency. For more information, please contact us. In other cases, we receive remuneration from you for our insurance intermediation services.
Our agency, PATS S.A. under the trade name TRUST TRAVEL, is registered in the register of insurance intermediaries as an insurance agent under registration number 0436.072.606. The register of insurance intermediaries is kept by the FSMA, rue du Congrès 12-14, 1000 Brussels, and can be consulted at www.fsma.be.
If you have any questions or problems, please contact our agency first. We can always be reached by phone at 059/565611 or by email at travel.insurance@trustravel.be. For more information about our agency, visit this page: www.trustravel.be
Complaints can also be filed with the Insurance Ombudsman Service, Square de Meeûs 35, 1000 Brussels, tel. 02/547.58.71 – fax 02/547.59.75 – info@ombudsman.as www.ombudsman.as
Law of July 30, 2013 aimed at strengthening the protection of consumers of financial products and services and the powers of the FSMA and various provisions, as well as the Royal Decree of February 21, 2014 relating to the rules for the application of Articles 27 to 28bis of the Law of August 2, 2002 on the supervision of the financial sector and financial services in the insurance sector, and the Royal Decree of February 21, 2014, on the rules of conduct and rules for managing conflicts of interest provided for by law for the insurance sector.
