Because authorized Victor and broker Marsh are part of the same group company, situations may arise involving conflicting interests. The interests of the principal (the party granting authority) can conflict with those of the broker or the insured. Within Victor Insurance Nederland and Marsh, there are regulations in place to prevent conflicts of interest from occurring. To minimize conflicts, a clear separation has been established between the tasks and authorities of Victor Insurance Nederland and those of Marsh. There are rules that must be followed if, despite these measures, a conflicting situation unexpectedly arises. In such cases, the situation is discussed with the involved parties and resolved through mutual agreement. The Business Interests Conflict Policy can be requested from Victor Insurance Nederland and Marsh.
In the conduct of our company's activities, we distinguish the following market parties. It is important to differentiate their various roles.
- Clients
We refer to clients as the end customers. This can include both individual and/or business policyholders. - Intermediaries
By intermediaries, we mean insurance brokers, financial advisory firms, advisors, and/or insurance intermediaries. - Authorized Agents
Authorized agents, such as Victor, are specialized companies. They are qualified and authorized to accept insurance applications, issue policies, and handle claims on behalf of insurers. To clients and advisory firms, authorized agents act as insurers. - Insurers
By insurers, we mean the risk carriers from whom we have obtained the power of attorney. On behalf of these risk carriers, we accept the risks offered, manage policy administration, and handle claims.
Due to the unstable situation in certain countries, increasingly restrictive measures are being imposed by the European Union and the United Nations. These measures limit or prohibit doing business with individuals, companies, and governments from these countries. All European insurers are therefore required to screen all their business relationships against sanction regulations.
Insurers are not allowed to provide coverage that conflicts with laws and regulations. Accordingly, Victor Insurance Netherland checks whether your company, its directors, authorized representatives, and ultimate beneficial owners ('UBO') appear on international sanction lists. If it is found that individuals or entities are listed on a sanctions list, the insurer is not permitted to enter into an insurance agreement.
A UBO is always a natural person. To identify UBOs, insurers verify individuals who have a direct or indirect interest in an organization or in the assets of that organization. You typically receive the UBO form from Victor Insurance Nederland through your intermediary, but you can also download it via the link below. Once completed, you should send the UBO form to your intermediary.
• UBO form Victor Insurance Nederland: Dutch
• UBO form Victor Insurance Nederland: English
Authorizations are bound by legal regulations. For example, the power of attorney must be documented in writing and must be drafted according to a model established by ministerial regulation. In this model power of attorney, the insurer declares that the authorized agent is permitted to accept insurance on its behalf. With the model power of attorney, the authorized agent can perform all activities considered part of the insurance business. The insurer granting the power of attorney provides an unlimited authorization. No modifications may be made to the model power of attorney. The Authority for the Financial Markets (AFM) registers all powers of attorney and maintains a public register that can be accessed online by anyone. This allows everyone to see which insurers have entrusted an authorized agent with a power of attorney.
Follow the link to the Victor Insurance Nederland power of attorney overview at the AFM.
NVGA
On the Dutch delegated authority market, the industry association ‘Vereniging van Gevolmachtigde Assurantiebedrijven (NVGA)’ is active. Besides representing interests, it focuses on ensuring the quality of authorized agents in general and of its members in particular. Victor Insurance Nederland is a member of this industry association.
VNAB
The Vereniging Nederlandse Assurantie Beurs (VNAB) is the leading industry organization for all parties involved in the commercial insurance market in the Netherlands. Building on the history of the former insurance exchanges in Rotterdam and Amsterdam, VNAB actively supports its members in three strategic areas: market leadership, knowledge transfer, and networking & connecting.
Lloyd’s of London
We are a registered Lloyd’s Coverholder. This gives Victor Insurance Nederland access to the insurance markets in London. If you have a policy with us that is placed in the Lloyd’s market, and you have questions or complaints about it, you can contact:
Lloyd’s General Representative in the Netherlands:
Mr. Ralph van Helden
Lloyd’s Netherlands Representative B.V.
Beursplein 37
P.O. Box 30196
3001 DD Rotterdam
What does our complaints procedure look like?
Our specialists carry out their work with the required expertise, dedication, and integrity. However, it may happen that you are not satisfied with our services. Please let us know, and together we will look for a solution.
We always advise you to first contact your advisor. Your advisor represents your interests and is your first point of contact. Often, your advisor can provide a solution.
Submitting a complaint
Are you unable to resolve the issue with your advisor? Or would you like to submit your complaint directly to us? You can report your complaint by email to klachten@victorinsurance.com or in writing to:
Victor Insurance Nederland
Attn: the complaints coordinator
P.O. Box 1545
3000 BM Rotterdam
Please clearly state the nature of your complaint and include all relevant correspondence.
What do we do with your complaint?
Within two working days, you will receive confirmation that we have received your complaint. We aim to inform you of our final position within ten working days. Should we need more time, for example because we need to investigate the complaint further, we will let you know within ten working days.
Of course, we want you to be satisfied with Victor Insurance. We do our utmost to handle your complaint to your satisfaction. In a personal conversation, problems can usually be resolved quickly and adequately. In addition, your complaint gives us reason to consider whether we can improve our services.
Are you still not satisfied with the handling?
Experience shows that most complaints are handled satisfactorily. Should you unexpectedly not be satisfied with the handling, you can submit your complaint to an independent complaints body or the court.
If you are a private individual, you can submit your complaint to the Financial Services Complaints Institute (KiFiD). The KiFiD is an independent body for disputes between consumers and financial service providers. You can submit a complaint to KiFiD within three months after receiving the final position from Victor Insurance Nederland.
At www.kifid.nl you will find more information about the conditions for submitting a complaint to KiFiD. KiFiD can also be reached at 070-3338999 or by mail: P.O. Box 93257, 2509 AG The Hague.
Victor Insurance Nederland is affiliated with KiFiD under number: 300.014607.
If you do not wish to use the above-mentioned complaints procedures, or are not satisfied with the outcome, you can submit the dispute to the competent court.