Complaints Handling

A complaint is an expression of dissatisfaction with regard to an insurance contract or the services provided by the insurance company as well as with regard to the general management of the insurance company.

Any communication with regard to complaint management has to be in a clear and understandable manner. The complaint can be made verbally or in writing by a policyholder, a beneficiary, an insured person, or a representative (broker, lawyer, etc.) and addressed to the Compliance Officer of Valorlife, who is also in charge of complaints, at the head office in Vaduz.

A complaint has to include the policy number, the reason and the date of the complaint as well as the name and the address of the complainant.

Alternatively the client may file a complaint with the competent
authority in his country of residence.

If we cannot reach agreement with the policyholder or beneficiaries,
the complaint may be referred to:

The Financial Market Authority Liechtenstein
Landstrasse 109 
P.O. Box 279
9490 Vaduz

For Dublin:
The Financial Services Ombudsman’s Bureau
Third Floor, Lincoln House
Lincoln Place
Dublin 2
We will send a confirmation of receipt to the complainant within 2 working days upon receipt of the complaint at the head office in Vaduz.

Every complaint will be reported to the Compliance Officer and registered on a register (complaint, the complainant (policyholder, lawyer, broker, FMA, etc.) and the reason for the complaint as well as the outcome). Each claimant resp. claim has to be treated fairly and correctly, and any conflicts of interest must be avoided at any time.

The Compliance Officer must ensure that the claim will be handled within a reasonable timeframe and a response will be given to the complainant within 10 working days. If this time period is not complied with, the reason for this will have to be explained to the complainant in writing, and the complainant will have to be informed about the approximate time the response will take. This will also be documented in the customer dossier as well as in the complaint register. The complaints register is analysed by the management on a monthly basis in order to define potential general problems in a timely manner and to counteract these.

All complaints will be examined bearing in mind the laws and rules applicable in the claimant’s country of residence.

The Compliance Officer first examines all documents and relevant information and evidence, and then decides whether a complaint is a simple or a complex complaint.

For simple complaints, the response will be discussed with the Operations employee in charge of this case.

For complex complaints, the Compliance Officer will decide together with the CEO and the COO if legal advice from a lawyer will be necessary, or if the complaint can be processed without legal assistance.

The Compliance Officer will discuss the response to complex complaints with the CEO and the COO.

All Operations employees are acquainted with these guidelines.

These guidelines have been approved by the management of Valorlife.
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