On 28 August 2019, the Dutch Central Bank (De Nederlandsche Bank, DNB) published good practices for non-life insurers (schadeverzekeraars) in relation to the adequate risk control of authorised agents (gevolmachtigd agenten). The good practices set out the regulatory requirements for the use of authorized agents and how DNB expects that these requirements are complied with. The good practices have been created after intensive consultations with the sector and replace the current standards on authorisations (Normenkader volmachten) which dates from 2013.
In the second half of September 2019, DNB will ask approximately fifteen insurers to conduct a self-assessment based on these good practices. The responses will provide DNB with insight into whether the good practices are sufficiently complied with by the sector. On this basis DNB will determine whether any further action is required.
View DNB’s press release (Dutch only), 28 August 2019.