Why is business insurance so important in this day and age?

Jérôme Wiwinius: Today’s business environment is exposed to an ever growing number of risks, from extreme weather conditions to cyber attacks. Our part of the world is becoming more prone to natural disasters, making property insurance more vital than ever. Additionally, as many companies are struggling to find highly skilled talent, it’s key to attract and retain staff by offering an extensive range of employee benefits related to insurance.

Which social security benefits are particularly attractive to employees?

While Luxembourg’s legal pension system is very generous, this might not always be the case in the future, so it will become more and more crucial to have a supplementary pension. Our corporate supplementary pension schemes are tailor-made to match a company’s budget and coverage choice. Besides offering tax optimisation of the salary package and tax deductibility of operating expenses, the schemes 75 give employees the possibility to invest in ESG or green funds among others. The health group contract with flexible insurance schemes is another core product of LALUX, which we offer through DKV Luxembourg which belongs entirely to the LALUX group since 2015. Besides this, business travel and accident insurance are also sought after products.

How can companies best protect themselves from business-related risks?

Whether it’s exposure to fire, water damage, theft or other financial losses, our complete range of customised insurances cover a wide range of business assets, such as buildings, equipment, vehicles and merchandise. The idea is to help company leaders concentrate on their core business deeds without having to worry about the protection of goods. Of course, leading a business also means engaging your personal and your employees’ civil liability. Civil liability insurance covers protect a company and its executives from legal and civil risks.

What types of insurance are particularly sought after by self-employed professionals ?

Since 1 January 2019, SME owners and self-employed workers can also sign up for supplementary pension schemes, including coverage of death and invalidity. Already end of last year we put in place a highly flexible, digital product for self-employed workers, where the insurance proposition can be signed remotely (via digital signature). A very complete insurance product is now available to professionals of this type, including fleet and property insurance, civil liability and health management.

How has LALUX positioned itself in the Luxembourgish insurance market?

Our three insurance companies – life, non- life and health – are among the leaders in the Luxembourg insurance market. Founded in 1920, we are the oldest Luxembourgish insurance company and to this day consist (besides the Spuerkeess that helds 40% of the shares) of exclusively Luxembourgish and family-owned shareholding. Our 470 employees and 1300 agents are all multilingual, with many of them speaking Luxembourgish. As we are independent from large international groups, we are less vulnerable to the turbulences of the financial market.

To find out more about the solutions offered by LALUX visit https://bit.ly/31YxPpj