Frequently Asked Questions

FIXING THE COMPENSATION (only applicable if your insurer is a member of TRIP)

Can a percentage of compensation be changed?

The percentage of compensation is set by the Committee within six months of the terrorist event. The Committee must meet at least every six months to determine whether or not to change the percentage of compensation.

If the amount of the claims is less than originally forecast, the percentage of compensation is increased for all claims generated by the terrorist event. If the insurance company has already paid out compensation, it will make a second payment.

If the amount of the claims is higher than originally forecast, the percentage of compensation is decreased. However, this cannot be applied to compensation already paid out and no restitution is possible. If the insurer has not yet paid out the compensation, but has notified the beneficiary of its decision to proceed with the payment, the insurer must apply the first (higher) percentage of compensation. The second (lower) percentage of compensation will be applied only to beneficiaries who have not yet received compensation and have not yet been notified of their insurer's decision.

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ASBL/VZW TRIP - Terrorism Reinsurance & Insurance Pool - de Meeûssquare / Square de Meeûs, 29 - 1000 Brussels - Belgium Privacy Notice TRIP - March 2020