RISK Insurers
ABOUT RISK INSURERS
Welcome to RISK
On our website, we outline our identity and role within the financial sector. RISK Insurers operates as a financial wholesaler, offering a wide array of products sourced from insurance companies, mortgage lenders, banks, finance companies, and our proprietary brand. Acting as an MGA (Managing General Agent), we partner with numerous intermediaries to distribute these products. Below, we delve deeper into the definitions of “MGA” and “agencies” to provide clarity on our operations.
Managing General Agent (MGA)
An insurer, mortgage bank or financial company may authorise an organisation (e.g., RISK Insurers) to act on their behalf. This authorisation allows us to act as an “MGA,” which involves underwriting, binding coverage, issuing policies, and handling claims under the terms of the delegated authority agreement. The advantage of delegated authority is that the customer has a single point of contact for all of their financial inquiries. This enables us to provide our services faster and more efficiently. Interested in learning more about what an MGA is and how it can benefit you? Click here to find out!
COMPLAINTS ABOUT OUR SERVICES
Complaints
We endeavour to deliver the highest quality of service. If you have any concerns about our service, please contact us. Click the button below to learn more about our complaints procedure.
Conflict of interest procedure
Although we conduct our MGA business and intermediary function in separate legal entities, there is no complete separation of duties. After all, a separation of duties would harm the efficiency benefits we aim for. Conflicts therefore may arise between our function as an MGA and our function as an intermediary.
We have formulated the following policy for potential conflicts of interest:
The leader of the MGA company is ultimately responsible for the delegated authority (MGA) policy. If the aforementioned procedures, work instructions, and quality assurance documents do not provide clarity on how to act in a given situation (with regard to the delegated authority granted), the de facto leader of the MGA company will decide. Deviations from the mentioned procedures, work instructions, and other documents are permitted within the powers of the delegated authority agreement, after receiving written consent from the leader of the MGA company and the insurance provider. If a claim involves a dispute about the question of liability and two or more of our MGA policyholders are involved, all or part of the claim settlement will be outsourced to one of the insurers/carriers involved.
Specific situations:
- Goodwill claim payment;
- Paying out a non-covered claim;
- Rejecting a non-covered claim;
- Conflicting question of fault between one or more insureds;
- Applying or not applying B/M rollback to an unsettled claim (dispute over fault);
- Applying a premium rate that is too low;
- Granting discounts (e.g., additional B/M steps) on the premium;
- Accepting too heavy a risk under delegated authority;
- Requiring insufficient or no preventive measures where they are required;
- Deviating from the applicable notice period;
- Deviating from the premium grace period (not suspending coverage for non-payment).
TRUST
Fraud policy
When customers take out a financial product such as insurance, whether through an insurance advisor or directly, they place their trust in us. This trust forms the basis of a lasting relationship. It also means that we are committed to limiting fraud among our (potential) customers. Unfortunately, a small number of individuals within the insurance industry attempt to commit fraud. Therefore, we take significant measures to prevent and investigate any instances of fraud. Fraud prevention and investigation incur costs and can impact insurance premiums. We work hard to eliminate fraud as much as possible. Insurers require us to have a fraud policy that aligns with their own, as they have partially outsourced this responsibility to us. Our policy is outlined below. We first provide a definition for what fraud is.
We define fraud as the misuse of an insurance product or service by the policyholder, insured, or beneficiary to obtain an undeserved benefit (whether in cash or in kind). This includes, but is not limited to, the following:
- Providing false answers during the statutory duty of disclosure when applying for insurance, such as concealing a criminal record, misstating claim history, or failing to disclose a prior cancellation.
- Misrepresenting details when filing a claim.
- Submitting incorrect invoices or repair bills during the claims process.
Once sufficient evidence of fraudulent activity has been gathered, whether in consultation with the insurer or independently, we or the insurer may take the following actions, among others:
- Terminating the current insurance policies.
- Refusing future insurance applications.
- Declining reimbursement for reported claims.
- Recovering previously paid claims.
- Reimbursing costs associated with the fraud investigation.
- Recording personal data in an internal and/or external database. The external database can be accessed by all financial institutions in the Netherlands. For more information, refer to Stichting CIS.
- Reporting the fraud case to the police.
For internal investigation costs related to claims, we apply a standard compensation fee of €532. This amount is recovered through SODA (Service Organization Direct Liability). Apart from the standard fee, SODA may also recover additional costs incurred or incorrectly paid damages on behalf of the insurer. Furthermore, in cases where fraud is detected during the insurance application process, internal costs amounting to €101 may be charged.
Visit www.so-da.nl to learn more about SODA.
RELEVANT COVERAGE INFORMATION
Insurance Cards & Product Information Documents
The digital insurance card or product information document provides a concise overview of the most relevant coverage information for a specific insurance product.
Target group description
Personal property insurance
Personal property insurance is suitable for individuals living in the Netherlands who wish to insure themselves via an (online) intermediary against the financial risk of damage to property/person or from liability. More information can be found here.
Commercial property insurance
Commercial property insurance is suitable for small businesses and self-employed individuals (ZZP’ers) in the Netherlands who wish to protect themselves through an (online) intermediary against financial risks associated with property damage, personal injury, liability, and business risks. More information can be found here.
CUSTOMER SERVICE
Customer service availability
We do our very best to get back to you as quickly as possible. Our customer service operates Monday through Friday, from 8:30 a.m. to 5 p.m. You can also reach us anytime through our chat service to ask questions.
We work tirelessly to keep the waiting time as short as possible. If the waiting time exceeds 20 seconds, you will have the option to use our callback service. By choosing this option, you will receive a call back on the number from which you called.
Our automated menu system offers a limited set of options tailored to different types of inquiries:
- Claims;
- Insurance applications and changes;
- Billing inquiries
By selecting the appropriate option, we can assist you more quickly and avoid unnecessary transfers. In case of an emergency, please refer to the telephone number provided on your policy or International Motor Insurance Card (Green Card). There is no charge for calling us; only your telecom provider’s standard rates will apply.
First point of contact
It is important for you to know where you stand. Our service is designed so that your insurance advisor is your primary point of contact. If you have a question, please reach out to your insurance advisor. Their contact details are provided in the cover letter accompanying your policy document. We are committed to supporting your insurance advisor as needed to ensure you receive an initial response as quickly as possible.
If you need to contact us directly, you can use the chat feature on this website for the fastest response. Prefer to call? You can reach us at 030-6344055.
Below is an overview of our response times, applicable across all our communication channels, including mail, email, and social media.
Acceptance response time
When your insurance advisor submits an application through our online module, we provide immediate feedback on whether your application has been accepted. If your application requires further review, we will notify you of the outcome within 2 business days. Upon acceptance, you will promptly receive the relevant insurance documents, including your policy document and Green Card.
General response time
If you would like to receive a copy of your insurance documents, please use our digital policy folder, where you can view all these documents 24/7. For more information, ask your advisor about the available options. If you have a general question about your insurance, your advisor will assist you. Should you need further assistance from us, we aim to provide an initial response within 5 business days.
Claim response time
If you have a claim, we understand it can be inconvenient, and we aim to assist you as quickly as possible. In case of emergencies, please refer to the phone number on your policy sheet or Green Card for 24/7 service. Additionally, our regular phone number offers 24/7 service outside of office hours, ensuring you can always reach us. In most cases, your claim will be assessed within 2 business days. However, certain circumstances may cause a delay as we ensure proper attention is given to all claims.
Complaint response time
If you disagree with our approach and wish to file a complaint, we regret the inconvenience and will do our best to resolve the issue. However, we cannot guarantee that everyone will be satisfied after filing a complaint, as some claims may genuinely not be covered by insurance. Please contact our customer service team and honestly explain your dissatisfaction and reasons. You will receive a response within 3 working days. For more information, please visit our complaints page.
