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Please make sure you view the key information alongside your search results. This section details information that must be considered before accepting a risk in the chosen country.

Disclaimer: Crystal is provided for information purposes; it does not constitute solicitation of business and is not intended to be a substitute for appropriate professional advice.

Netherlands** Please see Lloyd's Authorisation for details of Lloyd's licensing status

Pre-placement considerations

Lloyd's authorisation

Insurance 

Lloyd’s underwriters are authorised to write:
  • All classes of insurance on a freedom of services basis, and
  • All classes of insurance on an establishment basis

Lloyd’s underwriters can accept insurance for the classes listed below, either on a freedom of services or establishment basis:

Last updated: 14 Mar 2014


Reinsurance

Lloyd’s underwriters may write reinsurance business originating in the Netherlands.
Last updated: 14 Mar 2014

Definition of risk location

A risk is located in a European Union or European Economic Area member state if it is:

Insurance

(a) A building (and its contents issued under the same policy) situated in that member state.

(b) A motor vehicle, ship, yacht or aircraft registered in that member state.

(c) A travel policy for four months or less taken out in that member state.

For any other type of insurance (including a life insurance) it is a risk of this member state if the insured is habitually resident in the member state or a business or an organisation if the establishment to which the contract relates is situated in that member state.

Reinsurance

A reinsurance of an insurer located in that member state.

Note: The definition of a Dutch risk for Premium Tax purposes is wider. Taxes and similar charges are imposed in insurance of Dutch risk as defined above, and on any insurance of movable property normally contained in a building in the Netherlands (other than goods in commercial transit). This is the case even if a separate policy covers such contents, for the account of a non-resident.

For general guidance on identifying the location of a risk please refer to the risk locator.

Last updated: 14 Mar 2014

Compulsory classes

The following classes are compulsory in the Netherlands:
  • Third party liability for motor vehicles.
  • Third party liability for aircraft and airport operators.
  • Third party liability for hunters.
  • Third party liability for pipeline operators.
  • Third party liability for railway operators (financial guarantee or insurance). 
  • Clinical trials.
  • Health insurance (basic cover as defined by legislation).
  • Professional indemnity for insurance brokers, accountants, lawyers and notaries.
  • Oil pollution from ships.
  • Nuclear risks.
  • Shipments of waste (financial guarantee or insurance).
  • Workers' compensation (state scheme).
  • Protection and Indemnity (P&I) cover for commercial vessels of 300 GT (gross tonnage) or more where the vessel is registered in the Netherlands or is registered in another country and enters a port in the Netherlands.
  • Public liability for vessels licensed to carry more than 12 passengers in respect of injury to passengers and damage to their luggage, where the vessel is registered in the Netherlands or is registered in another country and enters a port in the Netherlands.
Last updated: 12 Mar 2015

Tax - Overview

Summary of taxes applicable to insurance

  • Premium tax

Taxes are handled either by Lloyd's centrally or by local intermediaries. For detailed information on taxes applicable to a particular risk please select the appropriate type of insurance using the 'Tax by risk' option(s) under tailored search.
 
Risk location
 

A risk is located in this territory for tax purposes if it relates to:

  • fixed and/or moveable property (excluding goods in transit) situated in the territory, or
  • motor vehicles, ships, yachts or aircraft registered in the territory, or
  • travel risks of a duration of four months or less taken out in the territory, or
  • any other type of risk (not listed above) where the insured is habitually resident in the territory or, in the case of a corporate insured, its business establishment to which the risk relates is situated in the territory.

Taxes and global contracts

A global contract may give rise to tax exposures in a number of different jurisdictions. Compliance with tax requirements will normally require the premium to be apportioned between jurisdictions and may result in more than one country's tax being applied to the same premium.  In addition tax liabilities may be triggered by a number of factors other than the location of a risk including,  residence of insured, route of the business into Lloyd's and Lloyd's status in a jurisdiction.

Last updated: 14 May 2012

Routes into Lloyd's

Coverholders

Lloyd's requirements for a coverholder carrying on Dutch business on behalf of a Lloyd's managing agent

Binding authority held by a coverholder in the Netherlands
Last updated: 29 Sep 2016

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Binding authority held by a coverholder outside the Netherlands, in another EEA Member State
Last updated: 02 Aug 2016

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Binding authority held by a coverholder outside the Netherlands and outside the EEA
Last updated: 02 Aug 2016

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Reinsurance
Last updated: 29 Sep 2016

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Open market correspondents

The Open Market Correspondent (OMC) approval process does not apply in this territory.

The following must be noted.

Open market business via a Dutch intermediary, dealing directly with Lloyd's or with a Lloyd’s broker

  • The intermediary does not require Lloyd’s approval or registration.
  • The intermediary must be a registered intermediary in the Netherlands.
  • The intermediary's name, address and lines of business to be produced must be submitted to the Lloyd's General Representative for the Netherlands. This requirement extends to providing this information in respect of all intermediaries included in the producer chain and is for commercial purposes.

Open market business via an intermediary outside the Netherlands in the EEA, dealing with a Lloyd's broker

  • The intermediary does not require Lloyd’s approval or registration. However, it must operate in accordance with Dutch law and regulation.
  • It must be a registered insurance intermediary in its home state.
  • It must have passporting approval for the Netherlands if it is going to conduct insurance mediation activity in the territory.

Open market business via an intermediary outside the Netherlands and outside the EEA, dealing directly with a Lloyd's broker

  • The intermediary does not require Lloyd’s approval or registration.
  • The intermediary must not engage in insurance mediation in the Netherlands.
  • The intermediary must deal with customers in the Netherlands only via an insurance intermediary that is either registered in the Netherlands or registered in another EEA member state and with passporting authorisation for the Netherlands.

Reinsurance

  • A reinsurance intermediary carrying on reinsurance mediation in the Netherlands must be either registered there or have passporting approval for the Netherlands.
Last updated: 23 Dec 2014

Intermediary regulation

The Netherlands implemented the Insurance Mediation Directive (Directive 2002/92/EC) by way of the Act on Financial Supervision 2007 (Wet op het financieel toezicht, Wft).
Last updated: 12 Mar 2015


Insurance documentation

Insurance documents

Contract certainty applies to general insurance contracts either entered into by a UK regulated insurer (such as Lloyd’s underwriters) or arranged through a UK regulated broker (such as Lloyd’s brokers based in the UK).

Lloyd's has developed Quality Assurance (QA) checks to help the market comply with this requirement.

Further information on contract certainty can be found on the Market Reform website.

Last updated: 03 Oct 2016


Market Reform contract guidance

This guidance on completing a Market Reform Contract (MRC) focuses on tax and regulatory checks.

It provides advice on completion of the Fiscal and Regulatory section, plus completion of headings in other sections relevant to fiscal and regulatory compliance.

The guidance below relates to insurance (ie not reinsurance).
Last updated: 14 Mar 2014


Language of contract

This information is secured Secure item
Last updated: 14 Mar 2014

Choice of law

To meet contract certainty requirements, the insurance contract must contain a choice of law clause.
Last updated: 14 Mar 2014


Jurisdiction

To meet contract certainty requirements, the insurance contract must contain a jurisdiction clause.

The Revised Brussels I Regulation 1215/2012/EU applies and determines the jurisdiction applicable.

Insurance of large risks: The underwriter can agree with the insured the jurisdiction that will apply to the contract.

Insurance of mass risks: In the event of a dispute, the rules in the Revised Brussels I Regulation determine the EU member state(s), in which a party can bring an action.

Reinsurance: The underwriter can agree with the reinsured the EU member state whose jurisdiction will apply to the contract.

Last updated: 07 Jan 2015


Service of suit

Insurance

Establishment:
It is mandatory to include a service of suit clause. Lloyd's General Representative must be nominated for establishment policies.

Services:
It is not mandatory to include a service of suit clause. Lloyd's General Representative may be nominated for services policies.

European service of suit and jurisdiction clause LSW487 may be used. The clause is available on the Lloyd’s Wordings Repository.

Reinsurance

There are no requirements for reinsurance business.

Last updated: 12 Mar 2015


Lloyd's representation and other contact details

Lloyd's representative

Ralph van Helden
Benelux Regional Manager
Lloyd's Netherlands Representative B.V
Beurs-World Trade Center
Beursplein 37
P.O. Box 30196
3001 DD ROTTERDAM
The Netherlands

Tel. +31 (0) 10 205 2110
Fax. +31 (0) 10 205 2119
Email: ralph.vanhelden@lloyds.com

Please see here for more information on Lloyd's in the Netherlands

Last updated: 14 Mar 2014