IDD amending directive – Council of the EU approves rules
The Council of the European Union has announced its agreement to postpone the application date of the Insurance Distribution Directive (IDD) for firms to 1 October 2018.
The delay will enable the insurance industry to prepare better for the IDD and for the changes necessary to comply with implementing rules. Member states will also have more time to transpose the IDD’s provisions.
The press release is available from: bit.ly/2EINbaB.
The CII’s IDD resource hub for members can also be viewed at: www.cii.co.uk/45833
The FCA has warned that it will take action against general insurance firms who fail to implement transparency rules.
To discussion paper on the ageing population and financial services
The EU General Data Protection Regulation (GDPR) will apply in the UK from 25 May 2018. It is an essential step forward in enhancing the privacy and security of personal data.