EIOPA produces draft Insurance Product Information Document (IPID) template
Under the European Union Insurance Distribution Directive (IDD), manufacturers of insurance products will be required to provide consumers with standard information for a policy, similar to a policy summary, prior to sale.
The European Insurance and Occupational Pensions Authority (EIOPA) has drafted a suggested template which is designed to help consumers make more informed decisions.
To download a copy of the draft IPID template visit: http://bit.ly/2lGQjq8
In October 2017, the UK Financial Conduct Authority (FCA) revealed that it has been monitoring how firms have implemented the consumer renewal disclosure rules, which came into force in April 2017.
The regulator has released a discussion paper on how it intends to assess the impact of its interventions on consumers, firms and markets.
Executive Director of Insurance Supervision at the Bank of England, David Rule, spoke at the Association of British Insurers to reflect on the Bank of England’s approach to the implementation of Solvency II...