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Report on the entry into force of the insurance distribution directive

18/05/2018

On 21 December 2017, the European Commission published a draft directive amending EU directive 2016/97 on insurance and reinsurance distribution (“IDD”) which moves the date on which Member States will be required to apply legislative, regulatory and administrative provisions required to conform with the IDD from 23 February to 1 October 2018.

On 21 December 2017, the European Commission published a draft directive amending EU directive 2016/97 on insurance and reinsurance distribution (“IDD”) which moves the date on which Member States will be required to apply legislative, regulatory and administrative provisions required to conform with the IDD from 23 February to 1 October 2018.

A Commission Delegated Regulation was also published on 20 December 2017 in order to harmonise the entry into force of two Commission Delegated Regulations with the IDD directive. These two Commission Delegated Regulations complement the IDD directive as regards the monitoring and governance requirements applicable to insurance undertakings and to insurance product distributors (“Product Oversight and Governance” Regulation) and with regard to the information requirements and the rules of conduct applicable to the distribution of insurance-based investment products (“insurance-based investment products” regulation).

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