Category: Brokerage Management
Published: 13 June 2017
The Insurance Distribution Directive - previously known as the Insurance Mediation Directive (IMD-2) - has been passed by the EU legislative process after debates over nearly four years. Member states now have until January 2018 to adopt the directive into national legislation.
The IDD introduces a new requirement for those staff that sell, advise on and transact insurance contracts for all types of insurance customers. Of particular importance is the requirement for all people within this scope to complete at least 15 hours of continuing professional development per year.
This policy briefing provides a summary of the FCA implementation of the IDD.
Rating: + 7
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