The Belgium Financial Services and Markets Authority has published an opinion clarifying how it interprets the definition of insurance distribution in the context of websites offering comparison tools for insurance products, including when such activities should be treated as insurance distribution. The opinion sets out the elements the FSMA takes into account when assessing comparison website activities and highlights consumer due diligence, advising users to check the identity of the comparison website, whether an existing company is involved and the nature of that company’s activities before providing personal data.
Belgium Financial Services and Markets Authority 2025-07-23
Belgium Financial Services and Markets Authority clarifies when insurance comparison websites are carrying out insurance distribution
The Belgium Financial Services and Markets Authority issued an opinion clarifying the definition of insurance distribution concerning websites offering insurance product comparison tools. It outlines criteria for assessing these activities and emphasizes consumer due diligence, advising users to verify the identity and nature of the comparison website before sharing personal data.