On Jun. 30, BEL GVT approved bill on payment of insurance benefits.
On proposal of Minister of the Economy Pierre-Yves Dermagne, the Council of Ministers approved a draft law to regulate deadlines/penalties re payment of insurance benefits.
Extension of Law
Payment deadlines for insurance benefits by insurers is regulated in a precise manner in certain branches of insurance: RC Auto, Fire, Life and Supplementary pensions.
However, certain branches of insurance are not covered by these provisions.
Draft law aims to extend the regulation of payment terms/penalties for insurance benefits concerning liability insurance, property insurance, health/accident insurance.
Exception of occupational accident insurance, which is subject to specific legal regime.
Law will be general provision applying to insurances not otherwise covered by law.
The preliminary draft is transmitted for opinion to the Council of State.
Mar. 2024 Bill Adopted
On Mar. 16, 2024, BEL PRL informed that the bill 55K3749 on deadlines and penalties for the payment of insurance benefits was adopted in its version 55K3749/003.
The adopted bill has been further submitted for royal assent.
Apr. 2024 Law Published
On Apr. 2, 2024, BEL GVT published Law of Mar. 17, 2024 on deadlines, enforcement re insurance benefits payment; applies on the 1st day of 6th month from publication.
I.e. on Oct. 1, 2024; it applies to claims for compensation submitted from that date.
Regulators
BEL GVT
Entity Types
Ins
Reference
OG 2024002961, 4/2/2024; Law 3/17/2024; PR, 3/16/2024; Bill 55K3749, 3/15/2024; PR, 6/30/2023
