Newsletter Insurance Regulation: “Insurance distribution trainings and exams now available in English”
According to Belgian rules on insurance distribution, regulated entities (insurance undertakings and intermediaries) must appoint a minimum amount of regulated positions.
In particular, regulated entities should appoint at least one effective leader and one person responsible for distribution (“RD”). In addition, they can appoint one or more persons in contact with the public (“PCP”).
RDs and PCPs must comply with professional knowledge requirements by showing that they have obtained either a bachelor degree with at least 12 credits of technical insurance knowledge or a master degree.
Alternatively, when the RD or PCP has not obtained such academic qualification, he/she must pass an entry exam recognised by the Financial Services and Markets Authority (“FSMA”). The FSMA has recognised entry exams organised by two training institutions: Febelfin Academy and Assuralia (Certassur).
Until recently, these institutions organised the exams only in Dutch and French. Hence, as staff of Belgian insurance undertakings and intermediaries situated in other EEA Member States must meet the professional knowledge requirements of the insurance distributor’s home Member State (Belgium), it was only possible to take the exam if the person was proficient in Dutch or French.
As of this week, this burdensome reality has changed. It is now possible to take the entry exam in English.
For continuing training, the situation has always been different. There are various training institutes recognised by the FSMA organising trainings on-site or remotely and in various languages.
This newsletter is part of a series of seminars, webinars and newsletters provided by Lydian on insurance regulation.
Lydian is an accredited training institution for insurance distribution (FSMA n° 473627046). Participants of seminars and webinars automatically receive a certificate of attendance after participation. Please request further details on our in-house training program via firstname.lastname@example.orgSend an e-mail to email@example.com