General Conditions of Trade & Brokerage Code of Conduct

1.    General conditions of trade 

1.1.    Howden Belgium

Howden Belgium NV ("we", "us", "our office") is a public limited company incorporated under Belgian law, having its registered seat at Belgicastraat 1,1932 Zaventem, Belgium registered with the Crossroads Bank for Enterprises (CBE) under the enterprise number 0745.664.635, and registered with the FSMA under the same number. 
Under "Howden Belgium" we understand the legal entity Howden Belgium and all linked companies (as defined in article 1:20 of the Companies and Associations Code)
Howden Belgium's activity consists of advising, mediating and assisting in the management or execution of your insurance contracts, and other insurance distribution services, if necessary via a website or other digital media. In addition, Howden Belgium provides other advisory services on an occasional basis. 
Howden Belgium is a subsidiary of Howden Broking Group Limited (UK), which in turn is part of the Howden Group Holdings Limited (UK). Howden Belgium is under the supervision of the Belgian independent regulator FSMA. 

1.2.    Introduction

These general terms and conditions form part of the agreement between you, the client, and Howden Belgium, for every time you appoint us as your independent insurance
broker.

If applicable, these general conditions are also applicable to any affiliated companies (in the sense of article 1:20 of the Companies and Associations Code) for whom you have
appointed Howden Belgium as your insurance broker.

These general terms and conditions of Howden Belgium shall always prevail over your general or special terms and conditions unless your terms and conditions have been expressly accepted in advance by Howden Belgium.

These general terms and conditions can also be invoked by natural and legal persons who are directly or indirectly associated with Howden Belgium and/or who are involved in any way in the services provided by or on behalf of Howden Belgium.

1.3.     Confidentiality and protection of personal data 

Each party, Howden Belgium and you as client, will keep confidential all information on the other party and will only be used in the context of the provision of our services (including information which may be communicated to insurers, their agents and other service providers in accordance with normal brokerage practice to enable us to fulfil our obligations to you and in accordance with legal exceptions) 

1.4.     Premium payment 

Timely and full payment of the premium is an important obligation for every client.
Non-payment or late payment of your premium can lead to a denial of coverage, suspension of coverage and/or cancellation of the insurance policy.

1.5.    Insurers 

Howden Belgium checks the financial capacity of insurers during the placement and renewal of the insurance policies, but is not liable if an insurer subsequently becomes insolvent.
Howden Belgium is an independent insurance broker, which means that we are not bound by any contractual obligation to place a certain minimum quantity of the insurances to be concluded with a certain insurer.

1.6.    Your obligations

For our services Howden Belgium depends on the information you provide us.
Therefore, it is important that the client provides us with correct and complete information and documents that are reasonably necessary for our services and for the mediation of your insurance policy or policies, both at the start and during the term of our services. Howden Belgium is not liable for any consequences if the client has provided incomplete or incorrect information. Within the framework of our services, you will receive various documents which you should always review carefully. If these documents are not in accordance with your wishes and needs, these irregularities must be reported immediately.
Within the framework of your cooperation with Howden Belgium and the insurers it is always important that you act with due care. This also means that you fill out any application forms as completely and truthfully as possible.
You must strictly comply with every validity condition in your insurance document(s). If you fail to comply with a validity condition, your insurance cover can have no effect and/or the insurer may have the right to terminate the insurance policy. 

1.7.    Intellectual property

All advice, documents, insurance policies, etc. originating from Howden Belgium (including our know-how) are protected by applicable intellectual property law and may not be used or reproduced without our prior written consent.

1.8.     IT 

If you wish, we can offer you the use of various web or IT applications and online services as part of the services relating to your insurance contracts. In case of use of such applications or online services, you expressly agree that you have approved all the conditions applicable to these applications or online services.

1.9.     Liability 

The liability provisions mentioned in this article 12 apply to: (1) Howden Belgium including companies affiliated with Howden Belgium and all their staff, including directors, agents and employees, and (2) claims brought against Howden Belgium by you, including by your affiliated companies, all their staff, including directors, agents and employees.

The liability of Howden Belgium is strictly limited to damage that has been calculated and as far as it has been proven that this damage is the direct result of an established fault committed by us in the execution of our services.

To the fullest extent permitted by law, and with the exception of damage that exclusively and directly results from wilful misconduct or gross negligence, Howden Belgium's cumulative liability (including the liability of our affiliated companies and employees, including directors, agents and employees)  towards you for all damage, costs and expenses (including, but not limited to attorney's costs) with regard to, or related to the services provided by Howden Belgium, is limited to EUR 3,000,000 per claim and per calendar year.

Howden Belgium is in no way liable for consequential or indirect damage (including loss of profit and / or loss of revenue), nor for damages imposed as a fine.
Howden Belgium is not obliged to guarantee a certain result and cannot be held liable in this respect.

All claims against Howden Belgium or its affiliated companies and their aforementioned staff, concerning or related to the services provided by Howden Belgium, must be made no later than 1 year after the date on which you became aware of the grounds of the claim, or could or should have been aware of the grounds for this claim.

Howden Belgium is not responsible for errors made by third parties.
Howden Belgium is not liable for losses you suffered due to an incorrect calculation or estimate of the premium and statutory levies that apply to the insurance.

1.10.    Divisibility 

If any provision of these general terms and conditions should be unenforceable or conflict with a provision of mandatory law, such unenforceability or invalidity will not affect the validity and enforceability of any other provision of these general terms and conditions, or of that part of the provision in question that is not contrary to mandatory law. In that case, you will negotiate in good faith with Howden Belgium in order to replace the invalid provision with an enforceable provision that comes closest to the initial objective.

1.11.    Governing law and jurisdiction

The legal relationship between Howden Belgium and the client is governed by Belgian law. Without prejudice to the your right to appeal, where appropriate, to the mediation of the insurance Ombudsman in Belgium, the courts of Brussels have exclusive jurisdiction in the event of disputes, provided that Howden Belgium has the right to bring the dispute before the courts of the lieu of your registered office.
Howden Belgium reserves the right to change these general terms and conditions unilaterally and at any time. In that case, we will inform you clearly and in advance and we will also indicate from which date an amendment will apply.

 

2.    IDD rules of conduct 

Howden Belgium adheres to the IDD Code of Conduct, as defined in particular in the Act of 6 December 2018 implementing the European Directive (EU) 2016/97 of 20 January 2016 on the distribution of insurance ("IDD Directive") and the Belgian Insurance Act of 4 April 2014.

2.1.    Services

These general terms and conditions apply to all your assignments that you entrust to Howden Belgium, including at least but not limited to:
•    Advising on insurance contracts;
•    Proposing and/or concluding insurance contracts, including the performance of all preparatory work and useful advice; and
•    Assisting in the management and execution of your insurance contracts, and in particular in the management of a claim during the term of our mission.
We are not qualified to provide any accounting, legal or tax advice. If you would like advice on such aspects, we advise you to consult an expert in the matter.

2.2.    Insurance branches

By registering Howden Belgium as an insurance intermediary with the FSMA, Howden Belgium is authorised to act as an intermediary for all types of insurance products, in Belgium and in all member states of the European Economic Area. 

2.3.     Correct handling 

Correct treatment of your insurance file is key for us. We therefore strive to:

  • Fulfil our mission with the necessary knowledge, care and integrity;
  • Provide you with correct, clear and non-misleading information at all times;
  • Act in a fair, impartial and professional manner, always in the interest of our client;
  • Respect your trust;
  • Be fully transparent about our compensation; and
  • Handle every complaint in a correct and independent manner;

In order to best represent your interests, you authorize us to make all necessary contacts with insurers and the insurance market and to make available and transmit to insurers all information we deem necessary (including your current insurance policy and/or another insurer's quotation).

2.4.    Remuneration 

Howden Belgium's remuneration consists of a fee, or a commission calculated on the basis of the premium of the insurance contract. 

We may also receive remunerations related to our firm's insurance portfolio from the relevant insurance company or for additional tasks performed by our firm. Other tasks may include  claims handling, recourse fees, interest income, and additional compensation from insurers for services provided on their behalf. Otherwise, we will receive compensation from you as a customer for our insurance mediation services. 

Furthermore, Howden Belgium charges policy and administration costs to its clients, which depend on the amount of the premium and/or commission.

2.5.    Administration costs

The subscription of an insurance product may entail administration costs, linked to the portfolio managed by Howden Belgium with the insurance company concerned, or linked to additional assignments that we carry out. This remuneration is the annual fee given by the insurance company for the services we provide, such as customer follow-up, product follow-up, operating costs such as administration fees, keeping track of legal and tax changes, legal consulting fees, marketing-related costs, etc.

The above-mentioned remuneration, which our office receives, may vary according to the product and is calculated on the basis of the amount invested or the premium. A general overview of the remunerations is available in Section 2.4. A breakdown of the remunerations and remunerations applicable to the insurance product offered or chosen, as well as our remuneration method for that particular insurance product, will be provided to you prior to the conclusion of the policy. For more information about remunerations, taxes, benefits or any other questions on this topic, please contact us directly.  

2.6.     Complaints

Customer satisfaction is a high priority for our office.
In accordance with our internal policies and procedures, we have set up a complaints management system. The purpose of this system is to investigate accurately and fairly complaints concerning an insurance contract or a service provided in the context of insurance distribution. Any detailed complaint may be sent to us by e-mail or by ordinary letter.

Info@howdenbelgium .com 

Our firm undertakes to answer them.  Whenever you wish or if you are not satisfied with the handling of your complaint by our office, you can contact the Insurance Ombudsman, Square de Meeûs 35, 1000 Brussels, tel.: +32(0)2 547 58 74, fax: +32(0) 547 59 75, e-mail: [email protected]. This service is competent to mediate insurance disputes on behalf of the consumer.

2.7.    Conflict of interest

As part of our obligations under the IDD Code of Conduct, we follow strict procedures and rules to avoid direct or indirect conflicts of interest in the services we offer to our clients. We are loyal, honest, and professionally committed to the interests of our clients in providing insurance brokerage services.

Identification of conflicts of interest:

As part of our conflict of interest management policy, we first identified potential conflicts of interest. These conflicts can arise between:

  • our office and its affiliates and a client, or;
  • between multiple customers.

The conflict of interest policy takes into account the specificities of our office, as well as its group structure.

In assessing potential conflicts of interest, our firm has identified the situations in which there is a significant risk that the client's interests will be harmed. These are:

  • Situations where profits are made or losses are incurred at the expense of the client;
  • Situations in which our firm has a different interest in the result of the service or transaction;
  • Situations where suppliers who are also customers are favoured or disadvantaged 
  • Situations where our office has a different interest than the client in the outcome of an insurance distribution service provided to the client or a transaction carried out on the client's behalf
  • Situations where a particular customer or group of customers is given priority over another customer or group of customers for financial or other reasons
  • Situations with a financial incentive to put other clients first;
  • Situations in which our firm performs the same activity as the client;
  • Situations in which our firm receives compensation from a person other than the client for the services provided by insurance mediation.
  • Situations in which our firm owns participations of at least 10% in voting rights or in the capital of the insurance company(ies);
  • Situations in which the insurance company(ies) owns participations of at least 10% of the voting rights or of the capital of our firm;
  • Situations where the fee for a limited assortment is higher than for the other products in the assortment
Measures taken :

Howden implements several measures to ensure that the client's interests prevail and has set up a register in which all identified conflicts of interest are listed. These include:

  • An internal instruction note;
  • An adjusted remuneration policy;
  • A policy that ensures that the related persons only act as intermediaries in respect of insurance contracts of which they know the essential characteristics and are able to explain to the customers;
  • A policy that reserves the right of our firm to refuse the requested service in the absence of a concrete solution to a specific conflict of interest for the sole purpose of protecting the interests of the client;
  • A procedure for receiving benefits;
  • A policy that ensures that all information provided by our affiliates is accurate, clear and not misleading.

If necessary, our office's conflict of interest policy will be amended and/or updated.

Specific transparency:

If, in a specific situation, our measures could not provide sufficient guarantee, you will be informed by our office about 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.

2.8.     Communication

You can contact us in Dutch, French and English, by e-mail, post or telephone. You were given the choice to receive the information on paper or via an electronic medium (including a website). Our office communicates with you electronically as much as possible, which you have indicated that you prefer. By signing the customer profile, you agree to this method of communication and confirm the accuracy of the e-mail address provided. You also undertake to notify us of any change to your contact information, including your email address. If you wish to receive the information on paper at a later date, the office will provide it on simple request.

Howden Belgium maintains a detailed digital customer file that includes the following:

  • Needs and risk analysis;
  • Market research with details of proposals;
  • Insurance policies/coverage notes (including general and specific terms and conditions);
  • Changes to policies/cover notes;
  • Emails, letters and communications with the customer about coverage, premiums, limits or claims;
  • All claims statistics;
  • Service Level Agreement (SLA) with the customer;
  • Customer Complaints and Responses to Complaints.

These documents and data are securely stored and retained in accordance with applicable privacy laws (GDPR).

3.    Sustainability policy

3.1. Managing sustainability risks 

In accordance with the Sustainable Financial Disclosure Regulation (SFDR), our firm takes sustainability risks into account when advising on insurance with an investment component, insofar as this information is made available by the insurance company.

The SFDR has defined sustainability risks as 'an environmental (E), social (S) or governance (G) event or condition that, if it occurs, could cause an actual or potential material adverse impact on the value of the investment'.

In the context of advice for insurance policies with an investment component, the remuneration policy applicable in our firm does not encourage excessive risk-taking in connection with sustainability risks.

3.2 Negative impacts on sustainability factors

The SFDR has defined sustainability factors as "environmental, social and employment issues, respect for human rights, and anti-corruption and anti-bribery."
The legal framework on sustainability factors and adverse impacts of investment decisions on sustainability factors is currently incomplete and will therefore evolve in the coming months and years. Our firm will review this policy as the legal framework is further elaborated.

3.3 Your sustainability preferences

Our firm will ask for your sustainability preferences for insurance advice for insurance with an investment component in order to ensure that our offer is as close as possible to your preferences.

4.    Whistleblowing – Notification

4.1. Procedure for reporting unethical behaviour within Howden Belgium

At Howden Belgium, we take unethical behaviour very seriously. To make it easier to report such behavior, we have set up a comprehensive reporting process, which is available to:

  • Current, former, and future employees
  • Third parties connected to our company (insurers, subcontractors, suppliers)
  • Anyone with knowledge of potential violations in financial services, products, or markets

We encourage anyone who observes or suspects inappropriate, fraudulent, or illegal behavior that may violate our policies or Belgian law to report it immediately.

4.2 How to report?  

Reports can be submitted via our secure internal reporting channel at: [email protected]. Once reports are received, they will be anonymized and forwarded to the compliance team, who will assign them to the appropriate department for investigation and appropriate action.

Important Note 

This reporting channel is only intended to report inappropriate behavior. For questions or complaints regarding the services or products of Howden Belgium, the normal complaints procedure applies.

Confidentiality of data

The personal data provided will only be used for the purpose of the investigation and the resulting actions. For more information about the processing of your personal data, please refer to our Privacy Policy.
 

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Howden Belgium reserves the right to change these general terms and conditions unilaterally and at any time. In that case, we will inform you clearly and in advance and we will also indicate from which date an amendment will apply.


Conditions générales françaises

Nederlandse algemene voorwaarden