The Insurance Distribution Directive (Directive (EU) 2016/97) (IDD) repealed and replaced the Insurance Mediation Directive (Directive 2002/92/EC) (IMD) effective 1 October 2018. Following the implementation of the IMD, it had become clear that there were inconsistencies in the way that the IMD was being implemented across Member States. The IDD aims to harmonise the implementation of the provision of insurance and reinsurance distribution across the EU, provide consistency in the sale of insurance and reinsurance products, increase consumer protection and promote cross-border integration. This Practice Note examines the European Commission’s review of the IMD, its proposals to revise the directive and the legislative process that resulted in the adoption of the IDD.
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