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Michaela Koller said:
“Europe’s insurers welcome the ECON committee’s call for the European Commission to delay the application of the IDD. Insurers need to be given sufficient time to implement the IDD and they can only do so with legal certainty, once the final rules are known.
“Insurance distribution processes will be heavily impacted by the new conduct of business requirements in the IDD. For the benefit of consumers, insurers need an appropriate amount of time to properly implement these requirements. Therefore, Insurance Europe calls on all of the European institutions to recognise the importance of delaying the application of the IDD and to take appropriate action.”