Q&As

What are the implications of the Insurance Distribution Directive on insurance companies?

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Published on LexisPSL on 18/09/2018

The following Insurance & Reinsurance Q&A provides comprehensive and up to date legal information covering:

  • What are the implications of the Insurance Distribution Directive on insurance companies?

This Q&A assumes that ‘insurance company’ means an ‘insurer’ as defined by the Financial Conduct Authority (FCA) in their glossary (FCA Handbook) based in the UK. This Q&A does not make specific assumptions as to whether the business is general insurance, long-term, retail, wholesale, business to business or business to consumer.

The Insurance Distribution Directive (IDD) (Directive (EU) 2016/97) will come into force on 1 October 2018. The UK's approach to implementation of the previous Insurance Mediation Directive (IMD) (Directive 2002/92/EC) in 2005 meant that all UK-authorised insurers (and reinsurers)

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