As a logistics service provider, do you also offer transport or storage insurance? Check the licensing rules
The Netherlands Authority for the Financial Markets (AFM) has clarified the licensing requirements for brokerage in group insurance. Companies that require a license must obtain one before October 1, 2025. This affects companies in the transport and logistics sector, such as freight forwarders and storage companies, that offer transport or storage insurance to their customers.
When is a license required?
The European Court of Justice has ruled that a license is required for group insurance brokerage if the following two conditions are met.
- If the customer has a choice in:
- the coverage
- the insured amount
- different policies
- or the insurer
- If you, as the policyholder, receive financial compensation for this, such as a commission.
Are there any exceptions?
There are a few exemptions, which are listed in the License requirement for group insurance. Click here for more information.
Will you still be able to offer transport and/or storage cover without a license after October 1, 2025?
As a transport company and/or freight forwarder, you may offer transport and/or storage cover to your customer if you do not derive any financial benefit from this. This means that you can only pass on the premium and any administrative costs.
Do you act as an intermediary? Take action and arrange your license in good time
If you are considered an intermediary by the AFM, you must have a license by October 1, 2025, at the latest. Please note that it takes at least 13 weeks for the AFM to process an application. We recommend that you submit your application as soon as possible.
Questions?
Do you have questions or doubts about the impact of these regulations on your business operations? Feel free to contact our team at info@meijers.nl or call +31 20 642 0524. Or visit our website. We are happy to help you.
