Category: Insurance Distribution / IDD

#IDD: EIOPA plans a series of InsurTech roundtables for 2017

When Gabriel Berndardino, the chair of the European Insurance & Occupational Pensions Authority (EIOPA) delivered the key note speech at yesterday’s  6th EIOPA Annual Conference in Frankfurt, he told delegates that, whilst there’s always been change, “the change coming from the digital era is different:  … it is not incremental; […]

#IDD: Insurance Europe responds to EIOPA’s technical advice on delegated acts – conflicts of interest & commission payments

Insurance Europe (IE) has published its response to EIOPA’s “Consultation Paper on Technical Advice on possible Delegated Acts concerning the Insurance Distribution Directive” (IDD). IE argues that, in “a number of instances“, EIOPA’s proposals “go beyond the rules set out in the IDD“. For example: On product oversight & governance, IE […]

Payment services & e-banking: is information “provided” on a “durable medium” if it’s sent by email

BAWAG PSK Bank, Austria provides e-banking services. To do this, it creates a mailbox for every BAWAG e-banking customer, which is accessible by logging on to the BAWAG e-banking system. BAWAG sometimes sends messages to these mailboxes, without sending an email to the private email address of its customers as well. Is this enough to […]

#IDD / #IMD2: EIOPA launches online survey about future Guidelines – Quick! the deadline’s 25 September 2016!

The European Insurance & Occupational Pensions Authority (EIOPA) has launched an online survey, seeking views about the scope of, and the nature of the products that should be covered in, its Insurance Distribution Directive Guidelines “for the assessment of insurance based investment products (IBIPs) that incorporate a structure which makes it difficult for the […]

FCA tries to encourage consumers to shop around before renewing a general insurance policy

The FCA has made a rule that it hopes will encourage consumers to shop around before deciding whether to renew a general insurance policy with their existing provider.

#IDD: EIOPA consults on the non-life Insurance Product Information Document required by the Insurance Distribution Directive

The European Insurance and Occupational Pensions Authority (EIOPA) has published a Consultation Paper on the proposed format of the non-life Insurance Product Information Document (IPID) required by the Insurance Distribution Directive (IDD). EIOPA has discussed the proposed IPID with the regulators of the European Union’s Member States; and it’s been the subject of 2 […]

The Insurance Distribution Directive: EIOPA’s technical advice on delegated acts, and next steps

The Insurance Distribution Directive (IDD) came into force on 23 February 2016, and must be transposed into the national laws of the EU Member States by 23 February 2018. The IDD gives the European Commission a power to adopt delegated acts on (a) product oversight & governance; (b) conflicts of interest; (c) inducements; and (d) the assessment of […]