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Tag Archives: insurance intermediaries

Posted in Regulatory and legislative updates, UK

UK: FCA’s consultation paper on the implementation of the Insurance Distribution Directive

On 6 March 2017 the FCA published its first consultation paper (CP 17/7, the “Consultation Paper“) on its proposals for implementing the Insurance Distribution Directive ((EU) 2016/97, the “IDD“).  The deadline for implementation is 23 February 2018. The FCA plans to make a number of important changes to the FCA rules in order to accommodate

Posted in France, Germany, Italy, Poland, Regulatory and legislative updates, Spain, UK

The Insurance Distribution Directive….one year to go

  Member States across the EU are due to implement the Insurance Distribution Directive by 23 February 2018.     With just one year to go we have looked at what progress the supervisory authorities in France, Germany, Italy, Poland, Spain and the UK are making with their implementation plans and how firms in each country might be

Posted in Italy, Market developments

Italy: IVASS Regulation on complaints handling extended to insurance intermediaries

Yesterday IVASS published on its website Regulation No. 46 of 3 May 2016 (“Regulation 46“) – amending ISVAP Regulation No. 24 of 19 May 2008 (“Regulation 24“) on the procedure for the submission of complaints to IVASS and the management of complaints by insurance companies. Regulation 46 extends the scope of Regulation 24 to Italian

Posted in European Union, Regulatory and legislative updates

‘The new Insurance Distribution Directive: changes to the regulation of insurance intermediaries in the EU

The new Insurance Distribution Directive, which came into force con 22 February 2016 and updates the 2002 Insurance Mediation Directive, sets out a framework for regulating EU insurance brokers, agents and other intermediaries. The key elements of the new Directive, which shall be transposed into national laws and regulations in a two-year term,  are (i)

Posted in Asia, China and Hong Kong, Regulatory and legislative updates

Hong Kong – New independent insurance authority

The Insurance Companies (Amendment) Bill 2014 (“ICA“) was passed on 10 July 2015. Under the ICA, the Insurance Companies Ordinance (“ICO“) will be amended and renamed “Insurance Ordinance” (“IO“). An independent insurance authority (“IIA“) will be set up to replace the existing Insurance Authority. The establishment of the IIA has been described as the most

Posted in European Union, France, Germany, Italy, Poland, Regulatory and legislative updates, Spain, The Netherlands, UK

EU: IMD2 – Where are we now?

Progress has been made recently with the Council of the European Union agreeing its general approach on the Insurance Mediation Directive 2 (“IMD2”) on 5 November 2014. This allows negotiations to begin with the European Parliament. The European Commission originally presented a proposal for a revised insurance mediation directive in July 2012 and, following initial