Insurance Europe has today published an insight briefing on the Insurance Distribution Directive (IDD).
EU Insurance Distribution Directive shows effectiveness of well drafted, sector-specific rules
Insurance Europe has today published an insight briefing on the Insurance Distribution Directive (IDD).
During the two years since the IDD came into force on 1 October 2018,
insurers have fully embraced this new legal framework, which provides
significant benefits for both consumers and insurers.
The IDD introduced strong and effective conduct rules for the sale of
all insurance products, with additional enhanced requirements for the
sale of insurance-based investment products (IBIPs).
Some of the reasons for the IDD’s success include:
- It provides improvements in consumer protection.
- It respects existing distribution channels.
- It has been tailored to properly reflect the industry it covers.
- It accounts for the diversity of national markets.
This demonstrates how sector-specific legalisation can deliver
the best results for consumers when it takes account of the
characteristics of the companies and products it covers.
insight briefing
© InsuranceEurope
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