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Insurance Distribution

what is the insurance distribution directive?

The Insurance Distribution Directive (IDD) replaced the Insurance Mediation Directive (IMD) in 2018. Its aim is to enhance consumer protection when buying insurance – including general insurance, life insurance and insurance-based investment products (IBIPs) – and to support competition between insurance distributors by creating a level playing field.

Like the IMD, the IDD covers the authorisation, passporting arrangements and regulatory requirements for insurance and reinsurance intermediaries. However, the application of the IDD is wider, covering organisational and conduct of business requirements for insurance and reinsurance undertakings. And for the first time the IDD also introduced requirements in new areas, including product oversight and governance, and enhanced conduct rules for IBIPs.

Read PIMFA’s comments on the European Insurance and Occupational Pensions Authority’s (EIOPA) consultation on draft Regulatory Technical Standards (RTS) adapting the amounts for professional indemnity insurance (PII)  cover and financial capacity under the Insurance Distribution Directive (IDD).


Our Guide to The Insurance Distribution Directive

Written in 2018 our guide explains IDD in more detail and what firms should be doing to adhere to the directive.

Read the guide now

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