{"id":3283,"date":"2025-06-19T11:57:47","date_gmt":"2025-06-19T11:57:47","guid":{"rendered":"https:\/\/impactreport.ag.be\/glossary-of-terms\/"},"modified":"2026-04-10T13:17:20","modified_gmt":"2026-04-10T13:17:20","slug":"glossary-of-terms","status":"publish","type":"page","link":"https:\/\/impactreport.ag.be\/en\/glossary-of-terms\/","title":{"rendered":"Glossary of Terms"},"content":{"rendered":"<div class=\"wpb-content-wrapper\"><p>[vc_row full_width=&#8221;stretch_row&#8221; content_placement=&#8221;top&#8221; css=&#8221;.vc_custom_1774040916679{padding-top: 3% !important;padding-bottom: 3% !important;background-image: url(https:\/\/impactreport.ag.be\/wp-content\/uploads\/2026\/02\/witte-wave-breed.png?id=1899) !important;background-position: center !important;background-repeat: no-repeat !important;background-size: cover !important;}&#8221; el_id=&#8221;heroopweg&#8221;][vc_column][vc_column_text css=&#8221;.vc_custom_1775811148006{padding-right: 2% !important;padding-left: 2% !important;}&#8221; el_class=&#8221;hoofdstuktitel&#8221;]<\/p>\n<h1 style=\"text-align: left;\">Glossary of Terms<\/h1>\n<p>[\/vc_column_text][\/vc_column][\/vc_row][vc_row css=&#8221;.vc_custom_1775809433121{margin-top: 3px !important;margin-right: 0px !important;margin-bottom: 3% !important;margin-left: 0px !important;padding-top: 0px !important;padding-right: 2% !important;padding-bottom: 2% !important;padding-left: 2% !important;background: #E4EEDB url(https:\/\/impactreport.ag.be\/wp-content\/uploads\/2026\/03\/curves-lightblue-30pc-fullscale-scaled.png?id=2481) !important;background-position: center !important;background-repeat: no-repeat !important;background-size: cover !important;border-radius: 25px !important;}&#8221; el_class=&#8221;overlaykader&#8221;][vc_column][vc_row_inner equal_height=&#8221;yes&#8221; content_placement=&#8221;top&#8221; gap=&#8221;35&#8243; css=&#8221;.vc_custom_1775807122546{margin-bottom: 0px !important;padding-top: 0px !important;padding-bottom: 0px !important;}&#8221;][vc_column_inner width=&#8221;1\/3&#8243; css=&#8221;.vc_custom_1775807177163{margin-top: 0px !important;margin-bottom: 0px !important;padding-top: 0px !important;padding-bottom: 0px !important;}&#8221;][vc_column_text css=&#8221;.vc_custom_1775811347902{margin-bottom: 0px !important;}&#8221;]<\/p>\n<h5>Investment insurance<\/h5>\n<p>As defined in Article 5 of the Belgian Insurance Act of 4 April 2014, an investment-linked insurance contract provides a maturity or surrender value that is wholly or partly exposed, directly or indirectly, to market fluctuations.[\/vc_column_text][\/vc_column_inner][vc_column_inner width=&#8221;1\/3&#8243; css=&#8221;.vc_custom_1775807186712{margin-top: 0px !important;margin-bottom: 0px !important;padding-top: 0px !important;padding-bottom: 0px !important;}&#8221;][vc_column_text css=&#8221;.vc_custom_1775811339479{margin-bottom: 0px !important;}&#8221;]<\/p>\n<h5>Fire insurance<\/h5>\n<p>Fire insurance is essentially home insurance. It offers much broader protection than fire damage alone, including coverage for storms, natural disasters, smoke, water and electrical faults. Additional risks may be covered as well, with theft being one of the most common.[\/vc_column_text][\/vc_column_inner][vc_column_inner width=&#8221;1\/3&#8243; css=&#8221;.vc_custom_1775807203273{margin-top: 0px !important;margin-bottom: 0px !important;padding-top: 0px !important;padding-bottom: 0px !important;}&#8221;][vc_column_text css=&#8221;.vc_custom_1775811360307{margin-bottom: 0px !important;}&#8221;]<\/p>\n<h5>Coverage<\/h5>\n<p>Coverage refers to the risks insured under a policy. It may describe the full scope of risks included in the contract or a specific insured risk.[\/vc_column_text][\/vc_column_inner][\/vc_row_inner][vc_row_inner equal_height=&#8221;yes&#8221; content_placement=&#8221;top&#8221; gap=&#8221;35&#8243; css=&#8221;.vc_custom_1775807122546{margin-bottom: 0px !important;padding-top: 0px !important;padding-bottom: 0px !important;}&#8221;][vc_column_inner width=&#8221;1\/3&#8243; css=&#8221;.vc_custom_1775807177163{margin-top: 0px !important;margin-bottom: 0px !important;padding-top: 0px !important;padding-bottom: 0px !important;}&#8221;][vc_column_text css=&#8221;.vc_custom_1775811376740{margin-bottom: 0px !important;}&#8221;]<\/p>\n<h5>Sustainability<\/h5>\n<p>Sustainability means meeting the needs of the present generation without compromising the ability of future generations to meet their own needs (World Commission on Environment and Development, 1987).[\/vc_column_text][\/vc_column_inner][vc_column_inner width=&#8221;1\/3&#8243; css=&#8221;.vc_custom_1775807186712{margin-top: 0px !important;margin-bottom: 0px !important;padding-top: 0px !important;padding-bottom: 0px !important;}&#8221;][vc_column_text css=&#8221;.vc_custom_1775811391351{margin-bottom: 0px !important;}&#8221;]<\/p>\n<h5>Group insurance<\/h5>\n<p>A group insurance plan is a collective policy set up by an employer for all or part of its workforce. It helps employees save towards a supplementary pension, forming part of the second pillar. The employer pays the premiums, and in some cases employees also contribute.[\/vc_column_text][\/vc_column_inner][vc_column_inner width=&#8221;1\/3&#8243; css=&#8221;.vc_custom_1775807203273{margin-top: 0px !important;margin-bottom: 0px !important;padding-top: 0px !important;padding-bottom: 0px !important;}&#8221;][vc_column_text css=&#8221;.vc_custom_1775811404344{margin-bottom: 0px !important;}&#8221;]<\/p>\n<h5>Reinsurance<\/h5>\n<p>Reinsurance is a separate agreement between an insurance company and a reinsurer. Through this contract, the insurer protects its own financial position against potential losses arising from the insurance policies it has underwritten for its customers.[\/vc_column_text][\/vc_column_inner][\/vc_row_inner][vc_row_inner equal_height=&#8221;yes&#8221; content_placement=&#8221;top&#8221; gap=&#8221;35&#8243; css=&#8221;.vc_custom_1775807122546{margin-bottom: 0px !important;padding-top: 0px !important;padding-bottom: 0px !important;}&#8221;][vc_column_inner width=&#8221;1\/3&#8243; css=&#8221;.vc_custom_1775807177163{margin-top: 0px !important;margin-bottom: 0px !important;padding-top: 0px !important;padding-bottom: 0px !important;}&#8221;][vc_column_text css=&#8221;.vc_custom_1775811491187{margin-bottom: 0px !important;}&#8221;]<\/p>\n<h5>Hospitalisation insurance<\/h5>\n<p>Hospitalisation insurance reimburses the costs of a hospital stay and related medical expenses. It supplements mandatory health insurance by covering all or a portion of the costs that the patient would normally have to pay out of pocket after collecting statutory compensation from the health insurance fund.[\/vc_column_text][\/vc_column_inner][vc_column_inner width=&#8221;1\/3&#8243; css=&#8221;.vc_custom_1775807186712{margin-top: 0px !important;margin-bottom: 0px !important;padding-top: 0px !important;padding-bottom: 0px !important;}&#8221;][vc_column_text css=&#8221;.vc_custom_1775811506937{margin-bottom: 0px !important;}&#8221;]<\/p>\n<h5>Life insurance<\/h5>\n<p>A life insurance policy provides a fixed payout if the insured person dies before the end of the policy term. If the insured is still alive at the end of the term, another agreed upon amount is paid instead.[\/vc_column_text][\/vc_column_inner][vc_column_inner width=&#8221;1\/3&#8243; css=&#8221;.vc_custom_1775807203273{margin-top: 0px !important;margin-bottom: 0px !important;padding-top: 0px !important;padding-bottom: 0px !important;}&#8221;][vc_column_text css=&#8221;.vc_custom_1775811521180{margin-bottom: 0px !important;}&#8221;]<\/p>\n<h5>Natural disaster<\/h5>\n<p>Fire insurance automatically covers damage caused by natural disasters. By law, these events include earthquakes, floods, the overflow or backup of public sewers, landslides and ground subsidence.[\/vc_column_text][\/vc_column_inner][\/vc_row_inner][vc_row_inner equal_height=&#8221;yes&#8221; content_placement=&#8221;top&#8221; gap=&#8221;35&#8243; css=&#8221;.vc_custom_1775807122546{margin-bottom: 0px !important;padding-top: 0px !important;padding-bottom: 0px !important;}&#8221;][vc_column_inner width=&#8221;1\/3&#8243; css=&#8221;.vc_custom_1775807177163{margin-top: 0px !important;margin-bottom: 0px !important;padding-top: 0px !important;padding-bottom: 0px !important;}&#8221;][vc_column_text css=&#8221;.vc_custom_1775811534635{margin-bottom: 0px !important;}&#8221;]<\/p>\n<h5>Premium<\/h5>\n<p>As defined in Article 5 of the Belgian Insurance Act of 4 April 2014, a premium is the payment made to an insurer in exchange for covering an insured risk.[\/vc_column_text][\/vc_column_inner][vc_column_inner width=&#8221;1\/3&#8243; css=&#8221;.vc_custom_1775807186712{margin-top: 0px !important;margin-bottom: 0px !important;padding-top: 0px !important;padding-bottom: 0px !important;}&#8221;][vc_column_text css=&#8221;.vc_custom_1775811547985{margin-bottom: 0px !important;}&#8221;]<\/p>\n<h5>Non-life insurance<\/h5>\n<p>As defined in Article 5 of the Belgian Insurance Act of 4 April 2014, a non\u2011life insurance contract provides compensation when an uncertain event occurs that causes financial loss for the insured.[\/vc_column_text][\/vc_column_inner][vc_column_inner width=&#8221;1\/3&#8243; css=&#8221;.vc_custom_1775807203273{margin-top: 0px !important;margin-bottom: 0px !important;padding-top: 0px !important;padding-bottom: 0px !important;}&#8221;][vc_column_text css=&#8221;.vc_custom_1775826780937{margin-bottom: 0px !important;}&#8221;]<\/p>\n<h5>Branch 21<\/h5>\n<p>Branch 21 is a life insurance investment product with a guaranteed return. Each contribution earns a fixed interest rate and, depending on the insurer\u2019s results, profit sharing may also be awarded.[\/vc_column_text][\/vc_column_inner][\/vc_row_inner][vc_row_inner equal_height=&#8221;yes&#8221; content_placement=&#8221;top&#8221; gap=&#8221;35&#8243; css=&#8221;.vc_custom_1775807122546{margin-bottom: 0px !important;padding-top: 0px !important;padding-bottom: 0px !important;}&#8221;][vc_column_inner width=&#8221;1\/3&#8243; css=&#8221;.vc_custom_1775807177163{margin-top: 0px !important;margin-bottom: 0px !important;padding-top: 0px !important;padding-bottom: 0px !important;}&#8221;][vc_column_text css=&#8221;.vc_custom_1775811574199{margin-bottom: 0px !important;}&#8221;]<\/p>\n<h5>Branch 23<\/h5>\n<p>Branch 23 is a life insurance investment product with a return that follows the performance of underlying investment funds. These funds typically invest in equities, bonds, cash and cash equivalents, real estate and\/or a mix of these asset classes.[\/vc_column_text][\/vc_column_inner][vc_column_inner width=&#8221;1\/3&#8243; css=&#8221;.vc_custom_1775807186712{margin-top: 0px !important;margin-bottom: 0px !important;padding-top: 0px !important;padding-bottom: 0px !important;}&#8221;][vc_column_text css=&#8221;.vc_custom_1775811586212{margin-bottom: 0px !important;}&#8221;]<\/p>\n<h5>Insurer<\/h5>\n<p>As defined in Article 5 of the Belgian Insurance Act of 4 April 2014, an insurer is any person or company acting as a contracting party to insurance agreements, regardless of professional capacity and whether actuarial techniques are applied.[\/vc_column_text][\/vc_column_inner][vc_column_inner width=&#8221;1\/3&#8243; css=&#8221;.vc_custom_1775807203273{margin-top: 0px !important;margin-bottom: 0px !important;padding-top: 0px !important;padding-bottom: 0px !important;}&#8221;][vc_column_text css=&#8221;.vc_custom_1775811599100{margin-bottom: 0px !important;}&#8221;]<\/p>\n<h5>Insurance agreement<\/h5>\n<p>As defined in Article 5 of the Belgian Insurance Act of 4 April 2014, an insurance agreement, also known as an insurance contract or policy, is an agreement whereby the insurer, in return for a fixed or variable premium, commits to delivering a contractually defined benefit if an uncertain event occurs, provided the insured or the beneficiary has an interest in that event not occurring.[\/vc_column_text][\/vc_column_inner][\/vc_row_inner][vc_row_inner equal_height=&#8221;yes&#8221; content_placement=&#8221;top&#8221; gap=&#8221;35&#8243; css=&#8221;.vc_custom_1775807122546{margin-bottom: 0px !important;padding-top: 0px !important;padding-bottom: 0px !important;}&#8221;][vc_column_inner width=&#8221;1\/3&#8243; css=&#8221;.vc_custom_1775807177163{margin-top: 0px !important;margin-bottom: 0px !important;padding-top: 0px !important;padding-bottom: 0px !important;}&#8221;][vc_column_text css=&#8221;.vc_custom_1775811622419{margin-bottom: 0px !important;}&#8221;]<\/p>\n<h5>Insurance coverage<\/h5>\n<p>When you take out an insurance policy, you and the insurer agree which risks are insured. Coverage is the specific term used for the protection the policy offers. The extent of that protection is outlined in the general and special terms.[\/vc_column_text][\/vc_column_inner][vc_column_inner width=&#8221;1\/3&#8243; css=&#8221;.vc_custom_1775807186712{margin-top: 0px !important;margin-bottom: 0px !important;padding-top: 0px !important;padding-bottom: 0px !important;}&#8221;][\/vc_column_inner][vc_column_inner width=&#8221;1\/3&#8243; css=&#8221;.vc_custom_1775807203273{margin-top: 0px !important;margin-bottom: 0px !important;padding-top: 0px !important;padding-bottom: 0px !important;}&#8221;][\/vc_column_inner][\/vc_row_inner][vc_row_inner css=&#8221;.vc_custom_1775807502331{margin-top: 5% !important;margin-bottom: 5% !important;}&#8221;][vc_column_inner][vc_column_text css=&#8221;&#8221;]This Glossary of Terms contains selected entries from Assuralia\u2019s terminology guide. The full list is available at:<br \/>\n\u25aa French: <a href=\"https:\/\/www.assuralia.be\/fr\/glossaire\">https:\/\/www.assuralia.be\/fr\/glossaire<\/a><br \/>\n\u25aa Dutch: <a href=\"https:\/\/www.assuralia.be\/nl\/woordenlijst\">https:\/\/www.assuralia.be\/nl\/woordenlijst<\/a>[\/vc_column_text][\/vc_column_inner][\/vc_row_inner][\/vc_column][\/vc_row]<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>[vc_row full_width=&#8221;stretch_row&#8221; content_placement=&#8221;top&#8221; css=&#8221;.vc_custom_1774040916679{padding-top: 3% !important;padding-bottom: 3% !important;background-image: url(https:\/\/impactreport.ag.be\/wp-content\/uploads\/2026\/02\/witte-wave-breed.png?id=1899) !important;background-position: center !important;background-repeat: no-repeat !important;background-size: cover !important;}&#8221; el_id=&#8221;heroopweg&#8221;][vc_column][vc_column_text css=&#8221;.vc_custom_1775811148006{padding-right: 2% !important;padding-left: 2% !important;}&#8221; el_class=&#8221;hoofdstuktitel&#8221;] Glossary of Terms [\/vc_column_text][\/vc_column][\/vc_row][vc_row css=&#8221;.vc_custom_1775809433121{margin-top: 3px !important;margin-right: 0px !important;margin-bottom: 3% !important;margin-left: 0px !important;padding-top: 0px !important;padding-right: 2% !important;padding-bottom: 2% !important;padding-left: 2% !important;background: #E4EEDB url(https:\/\/impactreport.ag.be\/wp-content\/uploads\/2026\/03\/curves-lightblue-30pc-fullscale-scaled.png?id=2481) !important;background-position: center !important;background-repeat: no-repeat !important;background-size: cover !important;border-radius: 25px !important;}&#8221;&hellip;&nbsp;<\/p>\n","protected":false},"author":2,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"inline_featured_image":false,"neve_meta_sidebar":"","neve_meta_container":"","neve_meta_enable_content_width":"off","neve_meta_content_width":100,"neve_meta_title_alignment":"","neve_meta_author_avatar":"","neve_post_elements_order":"","neve_meta_disable_header":"","neve_meta_disable_footer":"","neve_meta_disable_title":"on","neve_meta_reading_time":"","footnotes":""},"class_list":["post-3283","page","type-page","status-publish","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Glossary of Terms - AG Impact rapport 2025<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/impactreport.ag.be\/en\/glossary-of-terms\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Glossary of Terms - AG Impact rapport 2025\" \/>\n<meta property=\"og:description\" content=\"[vc_row full_width=&#8221;stretch_row&#8221; 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