Insurance distribution

Insurance Distribution Directive

Following the implementation of the Directive 2002/92/EC, Insurance Mediation Directive (IMD), it became clear that there were inconsistencies in the way it was being implemented across Member States. On 1 October 2018, Directive (EU) 2016/97, the Insurance Distribution Directive (IDD), replaced the IMD. The main objective of the IDD is to harmonise the national provisions governing insurance and reinsurance distribution across Member States, therefore creating a ‘level playing field’ between distributors. The IDD seeks to improve transparency regarding conflicts of interest and remuneration, and in relation to general insurance products, customers must be given a standardised insurance-product information document (IPID) to explain the key features of the insurance product. The IDD expands the professional requirements for insurance and reinsurance distributors to ensure that individuals involved in selling insurance products are competent to do so. Any individual or firm who is involved in insurance and reinsurance distribution will, in the absence of an exemption, be subject to the IDD. Unless

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Latest Insurance & Reinsurance News

IAIS publishes application paper on supervision of AI in insurance

The International Association of Insurance Supervisors (IAIS) has published the final version of its Application Paper on the supervision of artificial intelligence (AI), following a public consultation held earlier in 2025. The paper provides guidance on how supervisors and insurers can apply existing insurance core principles (ICPs) to the use of AI systems, reinforcing that expectations around governance, conduct, and risk management remain central as AI technologies are adopted in the insurance sector. It covers five key areas: risk-based supervision and proportionality, governance and accountability, robustness, safety and security, transparency and explainability, and fairness, ethics and redress. The IAIS notes that these principles are intended to support supervisors in assessing how insurers implement AI in a manner consistent with sound prudential and conduct practices. A public webinar will be held on 17 July 2025 to present the final paper and respond to stakeholder questions and will also introduce the IAIS’s new consultation on its draft Application Paper on operational resilience objectives and toolkit.

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IAIS consults on draft Application Paper for insurance sector operational resilience

The International Association of Insurance Supervisors (IAIS) has published a draft Application Paper on operational resilience objectives and toolkit. The paper aims to support supervisors and insurers in assessing and addressing operational resilience in line with the Insurance Core Principles (ICPs), in response to increasing complexity, interconnectivity, and reliance on technology and third-party service providers across the insurance sector. Responses are sought by 29 September 2025 and a public background webinar will be held on 17 July 2025 to present the draft paper and address questions.

ESAs jointly consult on draft guidelines for ESG stress testing in banking and insurance

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