Insurance Disribution Directive
The IDD was a recast of the previous Insurance Mediation Directive and was designed to ensure a level playing field across all participants selling insurance products.
By now firms will understand their level of compliance with IDD requirements and know that it is not a tick box exercise. It remains crucial to involve all business areas in periodically reviewing the implementation of the requirements, such as customers’ demands and needs, product governance and disclosure.
Firms will continue to keep a watching brief as more rules and guidelines from EIOPA and the FCA emerge.