Belgium is one of the largest insurance market in Europe. You can find both life and Non life insurance products in Belgium. Insurance is expected to grow at a moderate pace for both life and non life products.
Innovation is considered as the key instrument in theBelgium insurance. A high emphasis is being put on the non-life insurance in the country in the recent years. Better services and improved products rendered by theinsurance companies in the Belgiumfrom time to time is largely accepted by the peoples in the country.
The Insurance Supervisory Authority Commission (Bancaire Financiere et des Assurances) has been acting as the regulatory body in Belgium.
Belgium Health Insurance:
Belgian Social Security system provides healthcare insurance. You need to enroll for the healthcare insurance and a certain amount of premium will be deducted from your salary for the health insurance policy. There is also private insurance that you can opt for.
Car Insurance :
The minimum car insurance required by Belgian law is Third-Party Liability , which protects against death, bodily injury, or physical damage .
The home owner is required to have insurance policy for the home. According to Belgian Civil Code , a tenant has to take insurance on the rented property.
There are also various supplemental insurance policies and private sector policies available to the residents of Belgium. Employers also provide various group insurance schemes for the benefits of the employees.
Belgium Insurance Companies are :
Ethias Life Insurance
Les Assurances de Fortis Banque Insurance
AXA Belgium Insurance
AGF Belgium Insurance
Delta Lioyd Life Insurance
Last Updated on : 26th August 2013