{"id":11329,"date":"2019-10-07T09:41:00","date_gmt":"2019-10-07T07:41:00","guid":{"rendered":"https:\/\/becobra.be\/?p=11329"},"modified":"2026-07-02T10:03:08","modified_gmt":"2026-07-02T08:03:08","slug":"assurmifid-rules-of-conduct-management-of-conflicts-of-interest-transparency-regarding-remuneration-commission-table","status":"publish","type":"post","link":"https:\/\/becobra.be\/en\/assurmifid-rules-of-conduct-management-of-conflicts-of-interest-transparency-regarding-remuneration-commission-table\/","title":{"rendered":"AssurMiFID rules of conduct: management of conflicts of interest, transparency regarding remuneration \u2013 Commission table"},"content":{"rendered":"\n

The so-called ‘AssurMiFID’ rules of conduct now form an essential framework for the distribution of insurance products in Belgium. Inspired by the European MiFID Directive, which initially applied to financial instruments offered by banks and investment services, these rules were extended to the insurance sector as part of the ‘Twin Peaks II’ reform, which entered into force in 2015. Their objective is to strengthen customer protection and impose greater transparency in commercial practices. The central principle of this framework is clear: insurers and intermediaries must act honestly, fairly and professionally, in the best interests of their clients.<\/p>\n\n\n\n

Among other aspects, the attached AssurMiFID rules of conduct address the following topics:<\/p>\n\n\n\n

    \n
  1. The management of conflicts of interest is a major requirement. Insurance distributors must identify situations that may influence their objectivity, implement appropriate internal measures and formalise a management policy aimed at ensuring independent advice.<\/li>\n\n\n\n
  2. The requirements regarding remuneration and transparency are of great importance. Intermediaries must inform their clients about the nature of their remuneration (commissions, fees or other benefits) and ensure that this remuneration does not undermine the client\u2019s interests.<\/li>\n<\/ol>\n\n\n\n

    The obligations under the AssurMiFID rules of conduct, which are included in the annex, apply to all insurance intermediation activities, including advice, the presentation and proposal of contracts, the conclusion of such contracts, as well as assistance in their management.<\/p>\n\n\n\n

    In practice, remuneration is often based on commissions that vary depending on the insurance classes. As an indication, these generally range between 10% and 25% for non-life insurance (liability, motor, fire) and between 2% and 5% for life insurance. In this respect, the annexed document contains a table setting out the indicative customary commission rates (%) by risk, classified by category<\/strong>.<\/p>\n\n\n\n

    Finally, this framework has been consolidated in recent years by the IDD Directive, which takes up and reinforces the principles of AssurMiFID in terms of consumer protection. The AssurMiFID rules of conduct nevertheless remain a key reference in the context of the obligations applicable to intermediaries in the distribution of insurance products.<\/p>\n","protected":false},"excerpt":{"rendered":"

    The so-called ‘AssurMiFID’ rules of conduct now form an essential framework for the distribution of insurance products in Belgium. Inspired by the European MiFID Directive, which initially applied to financial instruments offered by banks and investment services, these rules were extended to the insurance sector as part of the ‘Twin Peaks II’ reform, which entered […]<\/p>\n","protected":false},"author":3,"featured_media":11326,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[44,45,46],"tags":[83,91],"rol":[],"class_list":["post-11329","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-legal-affairs-and-compliance","category-life-insurance","category-non-life-insurance","tag-private","tag-slotje"],"acf":[],"_links":{"self":[{"href":"https:\/\/becobra.be\/en\/wp-json\/wp\/v2\/posts\/11329","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/becobra.be\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/becobra.be\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/becobra.be\/en\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/becobra.be\/en\/wp-json\/wp\/v2\/comments?post=11329"}],"version-history":[{"count":2,"href":"https:\/\/becobra.be\/en\/wp-json\/wp\/v2\/posts\/11329\/revisions"}],"predecessor-version":[{"id":11338,"href":"https:\/\/becobra.be\/en\/wp-json\/wp\/v2\/posts\/11329\/revisions\/11338"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/becobra.be\/en\/wp-json\/wp\/v2\/media\/11326"}],"wp:attachment":[{"href":"https:\/\/becobra.be\/en\/wp-json\/wp\/v2\/media?parent=11329"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/becobra.be\/en\/wp-json\/wp\/v2\/categories?post=11329"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/becobra.be\/en\/wp-json\/wp\/v2\/tags?post=11329"},{"taxonomy":"rol","embeddable":true,"href":"https:\/\/becobra.be\/en\/wp-json\/wp\/v2\/rol?post=11329"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}