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ARTICLE · 02 OCTOBER 2024

More Flexibility For Insurance Contract Termination

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The rules on the duration and termination of insurance contracts governed by Belgian law have often been found overly formalistic and complex, especially by consumers.

BelgiumInsurance
Audrey Zegers
Audrey Zegers
Elias Nys
Elias Nys
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The rules on the duration and termination of insurance contracts governed by Belgian law have often been found overly formalistic and complex, especially by consumers.

Save for a few exceptions, the duration of non-life insurance contracts can, in principle, not exceed one year. Instead, such contracts are tacitly renewed for successive one-year periods, subject to a notice for termination or objection to the tacit renewal being made by one of the parties.

A significant change was introduced by the law of 9 October 2023 regarding the simplification of termination rules for insurance contracts (the "Law"). The Law enters into force today, 1 October 2024, and brings important changes to how and when insurance contracts can be terminated, with the aim of offering greater flexibility and more consumer-friendly options.

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