Insurances in Spain

Transparency policy

What criteria do we use to choose and compare the insurance products from the insurance companies?

Insurance brokers are the only qualified and authorized professionals to advise you with the utmost independence and impartiality in relation to insurance companies. This is why the advice we present for your consideration is based on an objective analysis, involving a generalized examination of insurance contracts offered by a sufficient number of insurance companies operating in the market. We take into account your specific request and profile as part of a merits assessment to provide a personalized recommendation for coverages that suits your requirements and needs.

For this reason, we negotiate distribution agreements with insurance companies, both generalists and specialists, capable of offering the best insurance products. This allows us to propose the most suitable alternative for your needs.

In addition to the experience gained over the years and our extensive knowledge of the sector, the criteria considered in selecting insurance companies with whom to establish business relationships for placing risks are based on the following principles:

• We assess the solvency of the entity through which we intend to distribute their products, ensuring they have the administrative authorization of the General Directorate of Insurance and Pension Funds (DGSF).
• We scrutinize the terms and conditions of policies related to insurance categories of interest to our clients, reviewing coverages, exclusions, deductibles, prices, and other conditions. We also evaluate aspects such as service, attention, and claims management.

Insurance companies for which we offer products and the contractual relationship with the distributor:
In accordance with insurance distribution regulations, we negotiate the best terms for the distribution of products with insurance companies, ensuring that these contracts cannot, under any circumstances, compromise our independence as advisors. The broker conducts their work in the interest of the client rather than the company.
As a result of these business agreements, we offer potential policyholders the opportunity to purchase insurance products with the insurance companies:
Aegon
Bupa
DKV
FIATC
Helvetia
Hiscox
Iris Global
Liberty Seguros (Generalli)
Mapfre
Occident
Previsión Médica
Previsora General
Reale
Surne
Zurich

What is the cost of the service we provide?
In principle, the service we offer does not have any costs for the client. As regulated by the legislation governing our activity, the remuneration received by the insurance broker from the insurance company is in form of commissions.
In some cases, the complex products or, as in the sale of investment products based on insurance, we may agree with the client in writing to charge fees, and we will inform them in advance of the amount or how it is calculated. In this case, a separate invoice will be issued, distinct from the premium receipt.

Transparent Pricing
We will provide clear information about the price of our products and services, including any fees or costs that may apply. We are committed to avoiding hidden fees or unexpected expenses.

Insurance Contracts taken out remotely (Life or Non-Life insurance)
Policyholders are granted the right to withdraw from the contract without providing reasons and without any penalties provided that:

• It is not a contract in which the policyholder assumes the risk of investment or in which the guaranteed return is based on the investments allocated to the contract (unit-linked insurance).
• It is not travel insurance or baggage insurance with a duration of less than one month.
• It is not insurance with a duration shorter than the prescribed withdrawal period.
• It is not mandatory insurance for the policyholder.
• It is not an insured pension plan (life insurance contracts with the same operation or purpose as pension plans).

The intention to withdraw must be communicated to the insurer, on paper or another durable medium, within a period of 14 days (non-life) or 30 days (life), starting from the date the policyholder is notified that the contract has been concluded or from the receipt of the contractual information if the receipt occurs later.

In case of complaints and claims
We have a Customer Service designed to resolve complaints and claims. Your complaint will be resolved within a maximum of two months. You can contact:
AUNNA DEPARTAMENTO DE ATENCION AL CLIENTE
C/ Doctor Fleming 53
28036 Madrid
Tel. 910339615

atencionalcliente@aunnaasociacion.es
www.aunnaasociacion.es
If the resolution does not meet your interests or if you do not receive a response within the specified time frame, you can contact the Claims Service of the General Directorate of Insurance and Pension Funds in the following ways:

• In paper format, by sending your written complaint to the Claims Service of the General Directorate of Insurance and Pension Funds, located at Paseo de Castellana, 44, 28046 Madrid.
• Electronically with an electronic signature, through the website of the General Directorate of Insurance and Pension Funds at https://dgsfp.mineco.gob.es.

This transparency policy will be reviewed annually and modified if any changes occur.
It has been approved and in effect since February 2020.