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Quarterly Newsletter - November 2013
  Anglo Belge Special Risks
  Anglo Belge Team - Sailing Challenge 2013
Established Brokers Innovative Solutions

Summary

What would happen to your business if you die?
Focus on a mysterious loss case
Meet the crew

Our services

Jeweller’s Block Policy (JBP)
Silk Insurance - Jewellers
Fine arts, Jewellery & Antiques
Kidnap & Ransom
Term life & Personal Accident
Credit Insurance

Contact us

Frans Van Hombeeckplein, 14
B-2600 Antwerpen
+ 32 3 218 91 28
info@anglobelge.com
www.anglobelge.com

Looking for the right insurance solution?

Advice on how to reduce your risk?

Ask us for a free quote.

What would happen to your business if you die?

Have you ever thought what would happen to your business or family if you were to die or become unable to work?

Here are two easy examples to illustrate how insurance can be useful to us all.
An international bank opened a branch in South Africa. A few months later the branch’s Managing Director was 80% disabled in a car accident, an experience no one would like to encounter.

Luckily the bank had subscribed to a personal accident policy and all the expenses resulting from this car accident were taken into account: hospital fees, psychological treatments, repatriation fees and even monthly salary corresponding to the degree of disability resulting from the accident.

Personal Accident Policies can be taken out by individuals for themselves, their families as well as this case illustrates, by businesses for their employees.

Something else: Have you ever contracted a loan necessary to your professional activities? You should protect yourself with a term life insurance policy for the period of the loan: in case you die, your business partners won’t have to approach your wife or heirs.

The two main types of insurance illustrated here are:
Personal Accident Insurance (PA) – is an annual policy which pays compensation if the insured dies as a result of an accident, but also pays for temporary or permanent injuries arising from an accident. Personal accident policies protect the insured anywhere in the world, 24/7.

Term Life Insurance (TL) - is a policy which pays a predefined compensation if the insured dies, irrespective of the cause. The word ‘term’ refers to the period of the policy which can be between one and ten years.

Personal accident and Term life policies will provide you with a high degree of personal comfort and security. Need to optimize your coverage regarding these matters? Call us on +32 (0) 3 218 91 28, we’ll be glad to help you further.

 
FOCUS ON A MYSTERIOUS LOSS CASE

Amongst many possible issues, the following case illustrates what it could be. Enjoy this true example. - only the names and locations have been changed.

Mr Smith from South London has a comfortable diamond dealing business. He buys diamonds in Hatton Garden and sells them to retailers in the UK. He works mainly from home and he usually keeps his goods in a safety deposit in his local bank. One day, one of his customers called him looking for a 5ct stone which he was not used to have. Mr Smith got in touch with one of his suppliers who gave him such a stone on consignment.

He was too late to deposit to the bank so when reaching home he decided to hide the stone in the right shoe in a shoebox kept in his bedroom cupboard, together with a few other boxes of old shoes. And to be discrete, he did not tell his wife anything about the diamond.

When Mr Smith arranged to show the 5ct to a customer, he went to his cupboard and was shocked to find that none of the shoeboxes were there! He asked his wife where they were. She explained that she had finally thrown all this trash away with other garbage and that they were already taken away with the refuse.

A distraught Mr Smith contacted the local council to see if he could recover the shoebox, but was informed that each day’s garbage was taken directly to a landfill and by now his shoes would be under a few tons of refuse. Even though there had not been a theft Mr Smith notified the Police, and his supplier because the memo note stated that the diamonds remained the property of the owner until paid for, and that Mr Smith would be responsible for any loss or damage.

Fortunately for Mr Smith, his jeweller’s block policy did not contain any restriction in respect of mysterious loss. After the expert’s investigation, the conclusion brought out that this was an unfortunate mishap. Consequently, Anglo Belge got his underwriter to agree to pay out.

Good news, this story came out to be a happy end one and Mr Smith obtained even total recovery of his loss.

Need advice regarding your All Risk Policy? Call us on +32(0)3 218 91 28, we’ll be glad to review the policy with you.

 
MEET THE CREW
Picture of Marc Delloye
Meet Marc H Delloye, Chairman of the Board of Anglo Belge. Find out what he really enjoys in life.

How long have you worked for Anglo Belge?
Since 1981.

What have been the biggest changes in the insurance sector since you joined Anglo Belge? 
In the good old days, the administration and paperwork was much lighter. Over the years the legislative and procedural environment has become more onerous and stricter.

While this has increased our workload, it has made us much more professional and has enhanced our customers’ cover and reduces their exposure to risk.
We have also seen a reduction in the range of insurance companies and underwriters, and I am not sure if there is a connection, but there has been a concurrent downward trend in premiums. And, more policies are sold as ‘packages’ meaning that we have to provide a broader range of insurance products with our specific policies.

What is the best part of your job?
The part of my job which I most enjoy is the human contact and my clients’ trust in me. This reflects another major change in my job. Today, thanks to the internet, mobile phones and fax machines, the volume of information we exchange with clients is much larger than it ever used to be, but there is nothing like meeting my clients whenever possible.

And what do you like least?
Administration!

Could you tell shortly one of your best memories within Anglo Belge?
When one of our major diamond customers, Eurostar, invited me to a wedding in Bombay. It opened up my eyes to a different world, interesting customs and opulent rejoicing.

What is the ideal client to you?

The ones who trust us on a long term basis.

What was your biggest mistake?
Mistake? mistake? mistake?........ none of course

Within your job, which country do you go the most to?
Switzerland.

Which restaurant would you recommend there?
Le Buffet de la Gare in Celigny (between Genève & Nyon).

And the best place you’ve ever been for a drink?
Sevva Terrace in Hong-Kong.

Which is your favourite hotel and why?
Hotel Mandarin in Hong-Kong or at Didier & Régine de Kerchove’s place (friends house) in Commugny Switzerland because you feel just like home!

Describe yourself in three words: Work work & laugh

What is your favourite band?
Credence Clearwater Revival.

What is your favourite book?
Histoire d’Humour de l’Histoire de France by Guy Breton. (Presse de la Cité 1985)

What is your favourite food?
Cep (wild mushrooms) omelette.

What are your hobbies?

Old timers and grandchildren.

 
 

Anglo Belge Special Risks NV | Frans van Hombeeckplein,14 | B - 2600 Antwerpen | www.anglobelge.com