Insurance Litigation in Belgium
Insurance Litigation in BelgiumUpdated on Monday 09th May 2016
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Insurance disputes in Belgium
Insurance litigation in Belgium is sometimes caused by the coverage of the insurance policy, reinsurance policies and cross-border disputes regarding insurance for companies and investors who are doing business in Belgium and in other countries.
The insurance industry in Belgium is transparent and clients are provided with sufficient information about the chosen policies before they enter into any agreement with the insurer. Several acts and decrees cover the regulatory framework for insurance practices in the country. The Insurance Contract Act and the Insurance Supervision Act are two such legal documents. The Financial Services and Markets Authority is the regulatory body and the one that supervises financial institutions.
Entrepreneurs in Belgium who are engaged in various business activities, like import and export, must conclude transport and/or maritime insurance and reinsurance contracts. The same applies for other business fields in which individuals and/or goods need to be insured.
Dispute resolution for insurance issues in Belgium
Litigation is a common solution for any contractual disputes that may arise between parties who have entered into an insurance agreement. Individuals and companies can decide to take legal action if the insurer refuses to honour a claim made under an insurance policy. A lawyer can help you negotiate during the pre-trial phase and bring the case before a Belgian court.
Arbitration is also a commonly used method to solve insurance and reinsurance disputes in Belgium. It can be faster than litigation and it relies on the parties’ decision to submit the dispute to arbitration. Arbitration is common in insurance disputes covering simple risks, building risks, worker’s compensation insurance or other liability insurance cases (except for car insurance). Mediation is not as commonly used in insurance disputes.
Professional legal help for insurance litigation in Belgium
The team of consultants at our law firm in Belgium can help you with all and any cases of insurance litigation. We can help you negotiate terms and conclude agreements with a Belgian insurer. We can also help you with cross-border issues if you need special insurance policies and run an international business.
Contact our law firm in Belgium for more information and legal advice.