Charter of Quality
In March 2013, Lombard International Assurance was the first signatory of the Life Insurance Charter of Quality issued by the Association des Compagnies d’Assurances (ACA). The Charter sets new standards for the industry in the areas of customer service and tax compliance and is inspired by the International Capital Market Association (ICMA) Private Wealth Management Charter of Quality, of which we are also a signatory.
The Charter sets out the five following guiding principles:
1. Integrity in business relations with clients, as well as with partners and competitors. The same integrity is expected from staff employed within the insurance sector.
2. Exemplary nature of the practices and loyalty in the implementation of their means of action.
3. Compliance with local or foreign regulatory requirements applicable to insurance companies.
4. Demonstration of conduct which refrains from facilitating mechanisms helping tax evasion.
5. Treatment of clients’ complaints in line with the EIOPA (European Insurance and Occupational Pensions Authority) standards.
By taking the lead in implementing the “Charter of Quality” in both the life assurance and wealth management industries, Lombard International Assurance reinforces its leading role in adapting to the new regulatory environment and the current standards of acceptable good practice.