Legislation – April 2024

What are the most recent legislation changes in the Benelux?


Changes in the car insurance law

Some changes have been made to the law on compulsory motor vehicle liability insurance. These changes include provisions regarding vehicles that are exempt from insurance, the compensation to be paid by the insurer if there is a delay in responding to the injured party, and the Common Guarantee Fund.

This law came into effect on April 12, 2024 (10 days after its publication in the Belgian Official Gazette).

Source : Law of March 17, 2024, amending the Law of November 21, 1989, on compulsory motor vehicle liability insurance (1), Belgian Official Gazette, April 2, 2024.


Sanctions for non-compliance with deadlines related to insurance benefit payments

A law dated March 17, 2024, concerning deadlines and sanctions related to insurance benefit payments, is adopted to address inconsistencies in current insurance legislation. Henceforth, all branches of insurance will be covered by provisions governing claims settlement. This includes payments of insurance benefits and sanctions, payments of claims, and sanctions, as well as sanctions in the case of liability coverage.

The law comes into effect on October 1, 2024, and applies to claims filed from that date onwards.

Source:  March 17, 2024 – Law concerning deadlines and sanctions related to insurance benefit payments, Belgian Official Gazette, April 2, 2024, p. 39249.


New economic measures and their impact on the insurance sector

The Belgian Official Gazette publishes the law of February 9, 2024, containing various provisions concerning the economy. Some of these provisions relate to insurance and will come into effect on March 31, 2024 :

–  Members of the legal management body and the executive committee of such companies, individuals responsible for effective management, as well as heads of independent control functions, must continuously possess the professional integrity and adequate expertise required for the performance of their duties.

–  Document retention: Insurance or reinsurance companies must make available to the Bank and the FSMA (Financial Services and Markets Authority) the documents necessary for the supervision to which they are subject by these authorities. The previous provision stipulated that these companies must retain documents related to their activities at their headquarters or at any other location previously authorized by the Bank in consultation with the FSMA.

Source:  February, 9 2024 – Law containing various provisions regarding the economy, Belgian Official Gazette


Suicide attempts: Insurers will no longer be able to refuse to cover hospitalization costs

The Chamber’s Economy Committee approved the bill proposed by Els Van Hoof (CD&V), co-signed by MP Patrick Prévot (PS), aiming to compel insurance companies to also cover hospitalization expenses following a suicide attempt. They will no longer be able to exclude these patients or make them pay premiums.