{"id":15633,"date":"2023-06-26T12:00:41","date_gmt":"2023-06-26T12:00:41","guid":{"rendered":"https:\/\/www.asquarepartners.com\/?p=15633"},"modified":"2023-06-26T14:34:14","modified_gmt":"2023-06-26T14:34:14","slug":"keeping-up-with-the-market-june-2023","status":"publish","type":"post","link":"https:\/\/www.asquarepartners.com\/fr\/keeping-up-with-the-market-june-2023\/","title":{"rendered":"Keeping Up With The Market &#8211; June 2023"},"content":{"rendered":"<p>Every month, we help you keep up with the Belgian and Luxembourg insurance markets.<\/p>\n<h2>Market<\/h2>\n<ul>\n<li><a href=\"#figures-travel\"><span style=\"text-decoration: underline;\">Figures: travel assistance insurance<\/span><\/a><\/li>\n<li><a href=\"#opc-results\"><span style=\"text-decoration: underline;\">OPC 2022 results<\/span><\/a><\/li>\n<li><a href=\"#insurance-comparator\"><span style=\"text-decoration: underline;\">Family Liability insurance comparator<\/span><\/a><\/li>\n<li><a href=\"#medal-ag\"><span style=\"text-decoration: underline;\">Gold medal for AG<\/span><\/a><\/li>\n<li><a href=\"#insurance-ombudsman\"><span style=\"text-decoration: underline;\">Insurance Ombudsman: report<\/span><\/a><\/li>\n<li><span style=\"text-decoration: underline;\"><a href=\"#nbb-report\">NBB: Financial Stability Report<\/a><\/span><\/li>\n<li><span style=\"text-decoration: underline;\"><a href=\"#AG-Go4impact\">AG launches Go4Impact<\/a><\/span><\/li>\n<li><a href=\"#cbc-survey\"><span style=\"text-decoration: underline;\">Results of the CBC survey about Belgians and their insurance<\/span><\/a><\/li>\n<li><span style=\"text-decoration: underline;\"><a href=\"#ethias-leasing\">Ethias launches electric car leasing business<\/a><\/span><\/li>\n<li><span style=\"text-decoration: underline;\"><a href=\"#assuralia-framework\">Assuralia calling for a legal framework for victims of natural disasters<\/a><\/span><\/li>\n<\/ul>\n<h2>Legislation<\/h2>\n<ul>\n<li><a href=\"#political-decisions\"><span style=\"text-decoration: underline;\">Workers&#8217; compensation: new political decisions<\/span><\/a><\/li>\n<\/ul>\n<h5><\/h5>\n<h5 id=\"figures-travel\">Figures: travel assistance insurance<\/h5>\n<p style=\"text-align: justify;\">As summer fast approaches, <strong>travel assistance insurance<\/strong> is on everyone&#8217;s pre-departure checklist! <strong>Assuralia<\/strong> has conducted a survey among its members about this insurance on the market. The results show that, last summer, more than 100,000 claims were settled and 300,000 telephone calls were made to insurers.<\/p>\n<p style=\"text-align: center;\"><span style=\"text-decoration: underline;\">Breakdown of the files by location<\/span><\/p>\n<p style=\"text-align: center;\"><a href=\"https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2023\/06\/Technical-files-car-1-e1687182173917.png\"><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone size-medium wp-image-15636\" src=\"https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2023\/06\/Technical-files-car-1-e1687182173917-291x300.png\" alt=\"\" width=\"291\" height=\"300\" srcset=\"https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2023\/06\/Technical-files-car-1-e1687182173917-291x300.png 291w, https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2023\/06\/Technical-files-car-1-e1687182173917-36x36.png 36w, https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2023\/06\/Technical-files-car-1-e1687182173917-450x463.png 450w, https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2023\/06\/Technical-files-car-1-e1687182173917.png 601w\" sizes=\"(max-width: 291px) 100vw, 291px\" \/><\/a><\/p>\n<p>To know more about Assuralia\u2019s survey, click <a href=\"https:\/\/press.assuralia.be\/des-vacances-en-vue--quid-en-cas-de-pepin\"><span style=\"text-decoration: underline;\">here<\/span>.<\/a><\/p>\n<p>&nbsp;<\/p>\n<h5 id=\"opc-results\">OPC 2022 results<\/h5>\n<p style=\"text-align: justify;\">In the last quarter of 2022, the <strong>net assets of funds<\/strong> marketed in Belgium reached 241.9 billion euros, an increase of 2.6% compared with the previous quarter but a decrease of 12.2% compared to 2021 due to price falls in the underlying assets.<\/p>\n<p style=\"text-align: justify;\">More specifically, assets in funds such as mixed funds and equity funds rose by 3.1% over the last quarter. Assets in fixed-income funds rose by 0.8%.<\/p>\n<p style=\"text-align: justify;\">Here is a chart showing changes in the assets of funds marketed over the last ten years:<\/p>\n<p><a href=\"https:\/\/www.febelfin.be\/en\/node\/1032\"><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/www.febelfin.be\/sites\/default\/files\/styles\/content_image_fluid_xs\/public\/2023-06\/Cijfers%20ICB%20Sector%20NL%202.jpg?itok=bSFmYIwn\" alt=\"Cijfers ICB 2\" width=\"400\" height=\"263\" \/><\/a><\/p>\n<p style=\"text-align: justify;\">You can read the full article on fund assets in the Belgium market <a href=\"https:\/\/www.febelfin.be\/en\/node\/1032\"><span style=\"text-decoration: underline;\">here<\/span><\/a>.<\/p>\n<p>&nbsp;<\/p>\n<h5 id=\"insurance-comparator\">Family Liability insurance comparator<\/h5>\n<p style=\"text-align: justify;\">The <strong>FSMA<\/strong> has recently launched a <strong><span style=\"text-decoration: underline;\"><a href=\"https:\/\/www.wikifin.be\/fr\/comparateur-dassurances-rc-familiale\">Family Liability insurance comparator<\/a><\/span><\/strong>. This comparator includes data from ten insurance companies offering this type of policy.<\/p>\n<p style=\"text-align: justify;\">The data transmission procedures are regulated by a protocol between the FSMA and Assuralia.<\/p>\n<p>&nbsp;<\/p>\n<h5 id=\"medal-ag\">Gold medal for AG<\/h5>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2023\/06\/AG-Ecovadis.png\"><img decoding=\"async\" class=\"wp-image-15643 alignleft\" src=\"https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2023\/06\/AG-Ecovadis-300x300.png\" alt=\"\" width=\"171\" height=\"171\" srcset=\"https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2023\/06\/AG-Ecovadis-300x300.png 300w, https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2023\/06\/AG-Ecovadis-80x80.png 80w, https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2023\/06\/AG-Ecovadis-36x36.png 36w, https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2023\/06\/AG-Ecovadis-180x180.png 180w, https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2023\/06\/AG-Ecovadis-120x120.png 120w, https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2023\/06\/AG-Ecovadis-450x450.png 450w, https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2023\/06\/AG-Ecovadis.png 500w\" sizes=\"(max-width: 171px) 100vw, 171px\" \/><\/a><strong>AG Insurance<\/strong> has received a <strong>gold medal<\/strong> for its sustainable efforts. The internationally renowned EcoVadis rating agency placed AG Insurance in the top 5% of companies worldwide in terms of sustainable and socially responsible business practices.<\/p>\n<p style=\"text-align: justify;\">One of the reasons for this award is that AG has put people at the heart of its strategy by integrating diversity, equality and inclusion into its activities and by launching the AG College. The environment is also at the heart of its strategy with its 880 solar panels, its renovation project for 2027 and its 100% green company cars for 2026.<\/p>\n<h5><\/h5>\n<h5><\/h5>\n<h5 id=\"insurance-ombudsman\">Insurance Ombudsman report<\/h5>\n<p style=\"text-align: justify;\">The<strong> Insurance Ombudsman<\/strong> recently published its <strong>annual report<\/strong>. The report describes trends in requests for intervention, particularly with regard to insurance companies and brokers.<\/p>\n<p style=\"text-align: justify;\">With its report, the Ombudsman highlights the fact that some policyholders are no longer able to take out insurance because of the economic crisis, and that some risks cannot be covered by insurers, as most of them are unwilling to insure them.<\/p>\n<p style=\"text-align: justify;\">The report also reveals that claims processing takes an abnormally long time, highlighting the need to boost the attractiveness of the insurance professions in order to increase recruitment.<\/p>\n<p style=\"text-align: justify;\">In total, the number of interventions across all lines of business increased by 8% in 2022. To find out more about these interventions, you can read the report <a href=\"https:\/\/www.ombudsman-insurance-annualreport.be\/2022-ombudsman-assurances-rapportannuel\/#edito\"><span style=\"text-decoration: underline;\">here<\/span><\/a>.<\/p>\n<p>&nbsp;<\/p>\n<h5 id=\"nbb-report\">NBB: Financial Stability Report<\/h5>\n<p style=\"text-align: justify;\">In June, the <strong>National Bank<\/strong> published its <strong>annual report<\/strong> on the <strong>financial stability<\/strong> of our market institutions. With this report, the regulator wishes to formulate a number of recommendations for financial institutions in an economic environment characterized by a tightening of monetary policy, a change in the credit and real estate cycles and problems that have affected the American and Swiss banking sectors in recent months.<\/p>\n<p style=\"text-align: justify;\">One of the NBB&#8217;s main recommendations for the insurance sector is that the federal and regional authorities put in place a statutory framework in response to the consequences for the sector of the floods in the summer of 2021.<\/p>\n<p style=\"text-align: justify;\">To find out more, you can read the report <a href=\"https:\/\/www.nbb.be\/doc\/ts\/publications\/fsr\/fsr_2023_report.pdf\"><span style=\"text-decoration: underline;\">here<\/span><\/a>.<\/p>\n<p>&nbsp;<\/p>\n<h5 id=\"AG-Go4impact\">AG launches Go4Impact<\/h5>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2023\/06\/Go4Impact_Newsroom_1200x630_F.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-15670 alignleft\" src=\"https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2023\/06\/Go4Impact_Newsroom_1200x630_F-300x158.jpg\" alt=\"\" width=\"300\" height=\"158\" srcset=\"https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2023\/06\/Go4Impact_Newsroom_1200x630_F-300x158.jpg 300w, https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2023\/06\/Go4Impact_Newsroom_1200x630_F-1030x541.jpg 1030w, https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2023\/06\/Go4Impact_Newsroom_1200x630_F-768x403.jpg 768w, https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2023\/06\/Go4Impact_Newsroom_1200x630_F-710x375.jpg 710w, https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2023\/06\/Go4Impact_Newsroom_1200x630_F-705x370.jpg 705w, https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2023\/06\/Go4Impact_Newsroom_1200x630_F-450x236.jpg 450w, https:\/\/www.asquarepartners.com\/wp-content\/uploads\/2023\/06\/Go4Impact_Newsroom_1200x630_F.jpg 1200w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/><\/a><strong>Go4Impact<\/strong> is an online tool that enables brokers to calculate in detail the carbon footprint of their activities and reduce it through actions tailored to their office. The tool is designed to meet the sustainability challenges faced by businesses and to support the 4,000 brokers in AG\u2019s network.<\/p>\n<p style=\"text-align: justify;\">Based on a questionnaire, the tool calculates the total CO2 emissions of brokers&#8217; activities and proposes concrete targeted actions to make their activities more sustainable.<\/p>\n<p style=\"text-align: justify;\">AG provides brokers who implement these actions with a logo to promote their initiatives.<\/p>\n<p>&nbsp;<\/p>\n<h5 id=\"cbc-survey\">Results of the CBC survey about Belgians and their insurance<\/h5>\n<p style=\"text-align: justify;\">The <strong>bancassurer CBC<\/strong> has released the results of its &#8220;Belgians and their insurance&#8221;<strong> survey<\/strong>. The first observation of the CBC survey is that 85% of policyholders feel well-insured. However, 37% of policyholders do not know exactly what their insurance covers, and 56% do not regularly review their insurance contracts.<\/p>\n<p style=\"text-align: justify;\">Regarding products, home insurance is the most important product for 85% of policyholders, followed by hospital insurance (75%). Life insurance attracts only 15% of Belgians.<\/p>\n<p style=\"text-align: justify;\">Concerning the digitalisation of the sector, 77% of policyholders are satisfied with it, but 66% of them still want to keep a personalised contact. Furthermore, only one policyholder in 4 has ever taken out insurance online or reported a claim digitally.<\/p>\n<p>&nbsp;<\/p>\n<h5 id=\"ethias-leasing\">Ethias launches electric car leasing business<\/h5>\n<p style=\"text-align: justify;\">Like other insurers (Soci\u00e9t\u00e9 G\u00e9n\u00e9rale and ALD), <strong>Ethias<\/strong> is starting to <strong>lease vehicles<\/strong>, but 100% electrically. With this business, Ethias hopes to help companies adapt to the transition to electric vehicles and the tax change that will take place from 1 July.<\/p>\n<p style=\"text-align: justify;\">The offer, aimed at companies and local authorities, provides a complete package: car, home recharging point, recharging card, support, insurance and assistance. In addition, the leasing period will be 6 years, which means lower monthly payments and a more optimised Total Cost of Use. By 2027, the insurer is aiming to have a total fleet of 8,000 cars.<\/p>\n<p>&nbsp;<\/p>\n<h5 id=\"assuralia-framework\">Assuralia calling for a legal framework for victims of natural disasters<\/h5>\n<p style=\"text-align: justify;\"><strong>Assuralia<\/strong> recently published an <strong>official statement<\/strong> addressing the importance of establishing a clear legal framework for compensating victims of natural disasters on the market. Together with other insurers, a constructive solution has been formulated.<\/p>\n<p style=\"text-align: justify;\">The solution concerns fire insurance for homes and small businesses. It should be added that victims of natural disasters would be reimbursed by a public-private partnership, as was the case for the floods in July 2021.<\/p>\n<p style=\"text-align: justify;\">According to Assuralia, this cooperation would allow insurers to reinsure the risk at an affordable price for the policyholder, without negatively impacting the company&#8217;s solvency.<\/p>\n<p style=\"text-align: justify;\">On top of that, a prevention policy needs to be introduced. The government is currently in discussion with insurers on this subject.<\/p>\n<p>&nbsp;<\/p>\n<h5 id=\"political-decisions\">Workers&#8217; compensation: new political decisions<\/h5>\n<p style=\"text-align: justify;\">As we informed you <a href=\"https:\/\/www.asquarepartners.com\/fr\/keeping-up-with-the-market-may-2023\/#legislation\">last month<\/a>, <strong>Minister Frank Vandenbroucke<\/strong> is seeking to impose more strict controls on refusals of <strong>compensation for work accidents<\/strong>.<\/p>\n<p style=\"text-align: justify;\">He recently suggested that Fedris should check files rejected by insurers. If Fedris decides that the insurer&#8217;s refusal is unjustified and that the insurer does not reconsider its decision, the Ministre invites Fedris to initiate legal action.<\/p>\n<p style=\"text-align: justify;\">Finally, the victim of a work accident must always be informed when his\u00b7her employer makes a work accident declaration.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<h5>Sources:<\/h5>\n<ul>\n<li><a href=\"https:\/\/assuropolis.kluwer.be\/secure\/documentview.aspx?id=VS301020211\">Assuropolis, L\u2019Ombudsman des Assurances\u00a0: rapport annuel 2022<\/a><\/li>\n<li><a href=\"https:\/\/assuropolis.kluwer.be\/secure\/documentview.aspx?id=VS301022373\">Assuropolis, AG re\u00e7oit la m\u00e9daille d\u2019or d\u2019EcoVadis en mati\u00e8re de durabilit\u00e9<\/a><\/li>\n<li><a href=\"https:\/\/assuropolis.kluwer.be\/secure\/documentview.aspx?id=VS301020351\">Assuropolis, La FSMA lance un comparateur d\u2019assurances RC Familiale<\/a><\/li>\n<li><a href=\"https:\/\/assuropolis.kluwer.be\/secure\/documentview.aspx?id=VS301021199\">Assuropolis, Chiffres du secteur des OPC 4<sup>e<\/sup> trimestre 2022<\/a><\/li>\n<li><a href=\"https:\/\/www.febelfin.be\/fr\/communique-de-presse\/chiffres-du-secteur-des-opc-4e-trimestre-2022\">Febelfin, Chiffres du secteur des OPC 4<sup>e<\/sup> trimestre 2022<\/a><\/li>\n<li><a href=\"https:\/\/assuropolis.kluwer.be\/secure\/documentview.aspx?id=VS301021975\">Assuropolis, Les assureurs ont r\u00e9gl\u00e9 plus de 10 000 sinistres en 2022<\/a><\/li>\n<li><a href=\"https:\/\/www.nbb.be\/doc\/ts\/publications\/fsr\/fsr_2023_report.pdf\">National Bank of Belgium, Financial Stability Report 2023<\/a><\/li>\n<li><a href=\"https:\/\/newsroom.aginsurance.be\/ag-lance-outil-de-calcul-de-co2-pour-les-courtiers\/\">Communiqu\u00e9 de presse, AG lance le premier outil de calcul d\u2019\u00e9missions de CO2 pour les courtiers en Belgique<\/a><\/li>\n<li><a href=\"https:\/\/cbc.prezly.com\/une-fois-bien-assures-moins-de-4-belges-sur-10-se-preoccupent-encore-de-leurs-assurances\">Communiqu\u00e9 de presse, CBC \u2013 Une fois bien assur\u00e9s, moins de 4 Belges sur 10 se pr\u00e9occupent encore de leurs assurances<\/a><\/li>\n<li><a href=\"https:\/\/assuropolis.kluwer.be\/secure\/documentview.aspx?id=VS301023141\">Assuropolis, Accidents de travail : Vers une meilleure protection des victimes<\/a><\/li>\n<li><a href=\"https:\/\/www.ethias.be\/corp\/content\/dam\/ethias-corporate\/Press-Release\/fr\/2023\/2022_06_22_Ethias_Lease_CP_Finance.pdf\">Communiqu\u00e9 de presse, Ethias secoue le secteur du leasing avec une offre sp\u00e9cialis\u00e9e en gestion de flotte 100% \u00e9lectrique et multimarques<\/a><\/li>\n<li><a href=\"https:\/\/assuropolis.kluwer.be\/NewsView.aspx?id=VS301023329&amp;lang=fr\">Les assureurs militent pour une meilleure indemnisation des victimes apr\u00e8s une catastrophe naturelle<\/a><\/li>\n<\/ul>","protected":false},"excerpt":{"rendered":"<p>Every month, we help you keep up with the Belgian and Luxembourg insurance markets. Market Figures: travel assistance insurance OPC 2022 results Family Liability insurance comparator Gold medal for AG Insurance Ombudsman: report NBB: Financial Stability Report AG launches Go4Impact Results of the CBC survey about Belgians and their insurance Ethias launches electric car leasing [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":15708,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[341],"class_list":["post-15633","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-be","tag-keeping-up-with-the-market"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Keeping Up With The Market - June 2023 - Asquarepartners.com<\/title>\n<meta name=\"description\" content=\"Every month, we help you keep up with the Belgian and Luxembourg insurance markets. 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