Back to basic

Jan Hommen, the new CEO of ING, said that ING will cancel ten till fifteen non-core activities. This will bring in six till eight milliard euro. Already one point four milliard is realized by selling ING Canada. These disinvestments are part of a bigger strategic plan, ING wants to go back to basic on all levels. The customers have to come on the first place in everything ING does.

There will also be a division of the finance and insurance business. But they stay under the name ING. Further ING will concentrate on the deposit accounts, uncomplicated products and a strong marketing and distribution. They will also concentrate more on Europe , more specific the activities in the Benelux. There will also be a cost saving on fortune control. This by bringing it under one worldwide system.

On the field of insurance, ING will put the accent on life insurances and pension insurances. And the insurance activities are staying under regional management.

ING is right on schedule and that is noticeable because the share rose with 17,8 percent.

In my opinion it is a good idea to go back to basic. Because nowadays banks are doing a lot of different things, actually to many things and they forgot the mean principle of what a bank does. They are too busy with too many things. They are selling a lot of different financial products, all insurances, investments, loans… When they cancel some activities, like ING does, it will go better. It will also be easier and better for the customizer.

De Ridder Steffie

Source: http://www.standaard.be/Artikel/Detail.aspx?artikelId=K428S476

Two thirds of tenants have no fire-insurance

Two thirds of tenants have no fire-insurance. This was shown by an investigation of an independent expertise office Galtier Expertises NV. This agency sends experts, after every fire, to investigate the damage that has been done.

The biggest problem for the tenants is that they can lose all their belongings and if they do not have a fire- insurance the consequences will be much worse. With most fires, the tenants will be held responsible. Only if the fire is caused by a flash of lightening or a construction fault the tenant will not be held responsible.

The landlords insurance will cover the costs to rebuild his house in the original state. The insurance company will usually put the fault in the shoes of the tenant. If the tenant does not have a fire- insurance, he will personally be held responsible for the damage and will have to pay for it.

In my opinion it is a pity that mostly the tenant has to pay for the damage if he does not have a fire- insurance . But it is a fact that the tenant lives in the house and that he is responsible if something happens.

The most shocking fact is that two thirds of tenants have no fire- insurance. I think that a fire- insurance is one of the most important insurances because if the house is burned, you not only loose all your belongings, but you also have to pay for all the damages. Certainly if you are a tenant, this insurance is essential.

If there is a clause in the rental contract which contains “distance of story” the tenant is not under obligation to take out a fire- insurance. This means that the landlord takes responsibility, and that his or her fire- insurance will pay if there is any damage.

Ruth Blommaert

http://www.hln.be/hln/nl/936/Nieuws/article/detail/821397/2009/04/16/Twee-op-derde-huurders-heeft-geen-brandverzekering.dhtml

Insurance company sends a contentment survey to death person

The insurance company DVV has send a contentment survey about fire insurances to someone who died in a fire. In October 1998, there was a huge fire in an apartment in Meer. Tom Koyen lived there 18 months and he was the only one that didn’t survived the fire. Ten years later, there is a survey from DVV for the family of Tom. Off course, this is a very unpleasant surprise. The survey didn’t arrive with Tom’s parents but with the neighbors. They’ve brought the survey to the parents of Tom. In the survey, the question rose if the parents of Tom were satisfied about the way DVV handled things when Tom died or not. This was to improve their services. The parents of Tom were not happy with the letter and they took it to the office of DVV. The insurance company itself didn’t understand how this misunderstanding could happen! The insurance company apologized to the family and guarantees that this kind of mistakes will never happen again.

I completely understand why Tom’s parents were mad and sad. Their son died in a fire and DVV sends them a letter about the fire insurances. The memories and experiences they have with fires are definitely not positive. I think it’s inappropriate to send these kinds of surveys to people who’ve lost a son in a fire. The insurance company has to take care of their administration and these things, they should keep in mind. They have to know all the cases of deceased people and they should not sends surveys about the contentment of the fire insurances to them.

Nathalie COUDEVILLE


SOURCE: http://www.standaard.be/Artikel/Detail.aspx?artikelId=RM29CA2N&word=verzekering

Eco Pass Green extra from the boss

The Eco Pass is an extralegal benefit given by an employer to his personnel. The first to enjoy this extra charge are the metalworkers. The ecological cheque increases the buying-power. With this pass people are able to make purchases of ecological justified products and services which are subdivided into several categories like energy saving, deduction of waste...

The use of the Eco Pass has three purposes: it should raise purchasing power, stimulate employment and elevate people’s environmental awareness.

The metal companies can choose to replace the cheque into premiums for hospitalisation insurance. The value of one pass is maximum 10 euro, the total amount for 2009 is 125 euro and for the following years the total sum is 250 euro.

I think the introduction of the Eco Pass is a great idea because people get stimulated by their employer to think environmental-minded. Thanks to the categories, it all gets more obvious for the purchasers.

I think it is not good that people can exchange the Eco Pass into premiums for a hospitalisation insurance. The metalworker thinks about his own prosperity and well-being and the environment becomes forgotten. With these cheques people should only buy environmentally friendly products and services and nothing else. It is time that our planet comes first in place.

Sofie De Cooman

http://www.standaard.be/Artikel/Detail.aspx?artikelId=KU28NEHM&word=hospitalisatieverzekering

Doubts about payments Ethias dividends.

The shareholders from Ethias have no idea when and if they’ll receive payments of their shares. This year and next year, the insurance group Ethias is not going to pay out the dividends, because now they have other priorities. The main priority is to rebuild the own capital says a good and reliable source in La Libre Belgique. That source tells us that Ethias is not going to pay out dividends because they made a deal with the government. The government gave Ethias 500 million Euros to save the bank and now they want their money back. The board of directors hasn’t given any more information.

Earlier this year, the bank also said that they are not going to pay any profit sharing to the 250 000 clients who have a first account. With this measurement they also want to save money. The return of this account will stay at its maximum of 3,5% without any bonus. The only thing that Ethias did say, is that they will do everything that’s possible to pay out returns, bonuses and dividends next year.

My opinion is divided. On the one hand I understand that Ethias doesn’t pay out any dividends or bonuses because the government must be able to keep up their good work and they need money to invest in projects to help the society. But on the other hand, the clients of Ethias are punished again, because they don’t earn extra money on their investment. They’ve opened an account with Ethias, because they want to gain some profits, but now they will just keep their money and will not receive some extra cash.

Nathalie COUDEVILLE

Source:http://www.standaard.be/Artikel/Detail.aspx?artikelId=3C25VG3N&kanaalid=652

KIA offers free job-loss insurance

The worst case scenario: you have put yourself in debts to buy a new car and at the same time you lose your job. When you have bought a Kia, you don’t have to panic. Because Kia offers next to 7 years guarantee also a job loss insurance for their customers.

The reason why? Well that is easy, in times of financial crisis the confidence of consumers have to be restored. By offering this insurance they want to attract customers. The 7 years guarantee is also a stunt to invite people to buy a KIA, but the guarantee is limited on a few models of the brand, like Cee'd, Sportage and Soul. There are some conditions you have to take in account, so it is a matter of reading the little letters in the contract.

The insurances not only covers discharge but also incapacity of work, disability and death. At that stage, the remaining payments will be taken over by the insurance company, in this case Cetelem of PNB Paribas.

Kia’s sister brand Hyundai offers a similar insurance in the United States. But in Belgium, where the Korean brand is imported by a self employed-person under the flag of the Alcopa- group, there is no discussion about giving a job-loss insurance to a customer of Hyundai.

Kia Belgium is in contrast with Hyundai a full sister of the Korean concern. Which leads to a sharp competition between the two sister companies.

I think that giving a free job-loss insurance is a good case, because the goal is to attract customers and to restore the confidence in the economy. Also giving a 7 year during guarantee is an extra reason for buying a car of the brand Kia.
But I also think that the media should not put the item of free job-loss insurance in the spotlights. Like I already said above you have to read the little letters in the contract because I think that the word free can be a little misleading.

Ruth Blommaert
http://www.hln.be/hln/nl/940/Autonieuws/article/detail/794727/2009/03/25/Kia-biedt-gratis-verzekering-tegen-jobverlies.dhtml

Iran women to get equal insurance

Until now Iranian women were still financially discriminated in case of insurances. They received only half of what men collect of their insurances policies. Right now there is a huge change-over. Women will finally receive the equal amount in case of death and injury The financial injury of women did not only affect themselves but also their families and relatives.

Further, the Justice Minister of Iran has decided not to make a difference anymore between Muslims and Non-Muslims. These last mentioned received less payment than the Muslims. Now, the insurance companies have to pay equal amounts to both.

I think it is scandalous that nowadays there still is discrimination in case of sex/gender, religion… I know that in the Middle-East the way of thinking and acting is completely different compared to our way of living, but I think that no one has the power or the right to judge someone based on sex, religion… All over the world discrimination should be taken care of.

The equalization between men or women in case of some insurances is a major step in the right direction but there is still a lot of work to do to banish every kind of discrimination. I think that it would be great if the word ‘some’ could disappear in the sentence above.

Sofie De Cooman

http://news.bbc.co.uk/2/hi/middle_east/7953282.stm

Do I have to put the car insurance on my name?

Marcel Van Den Cruyce had next question: Do I have to put the car insurance on my name beacause now it is standing on my wife’s name but she is bedridden so I am the the head user now?

According to De Clippele, the representive of Assuralia, this is not obliged. But it is a good idea to inform the insurer, so that they know the situation. Then you are safe and the insurer cannot blame you afterwards.
You can also change the name in the policy, this contains no other changes. The premium wount increase or decrease because the car is now standing on the husbands name. They cannot make a difference between man or wife. The history of damage of the insurer on the contrary can form a problem. That is why it is better to inform the insurer. Because when you already had some accidents, the risk to insure you is higher.

Also the ages can form a problem. Because when you place the policy on a younger person, you will have to pay a higher premium.
You do not have to register the car again if you place him on another name. If the car is registered and you have a licence plate you can easily change of insurer or insured.

In my opinion it is a good idea to change the name of the head user. Because when you get an accident the insurer always looks and searches for something so they do not have to pay. It can be that the premium rises, that is an advantage but you are sure you are insured correctly.

De Ridder Steffie

Source: http://www.standaard.be/Artikel/Detail.aspx?artikelId=DO286M0Q&word=verzekering