European Parliament final deadline confirmed

The European Parliament has finally officially confirmed that the Insurance Distribution Directive will come into force on 1 October 2018.

This means that insurers who had paused their IDD implementation projects now need to continue with revising their product disclosures as necessary, ensuring they understand whether their products are deemed complex and where necessary changing their sales processes, to ensure they can meet the requirements in good time.

See our previous comments on the IDD here and here and our article for more information on key elements of the directive.