We are consulting on our latest proposals for changes required to comply with the Insurance Distribution Directive (IDD).
This consultation follows on from CP17/7 and CP17/23 with further proposals on how we plan to implement the IDD in the UK. The IDD replaces the Insurance Mediation Directive. It aims to enhance consumer protection when buying insurance (including general insurance, life insurance and insurance-based investment products) and to support competition between insurance distributors by creating a level playing field.
This consultation paper covers changes to our rules to reflect the requirements of the IDD delegated acts, relating to:
This consultation will interest firms (including insurance and reinsurance companies, and insurance intermediaries), customers in the insurance market, and bodies representing these groups. It will also be of interest to designated professional bodies whose members conduct insurance distribution activities.
Please send us your comments on CP17/33 by 25 November 2017:
You should read CP17/33 together with CP17/23. If you want to respond to CP17/23 please do so by 20 October 2017.
You can also:
We will publish feedback on responses and issue a Policy Statement once we have reviewed your comments in January 2018.