FCA publishes Insurance Distribution Directive consultation

The Insurance Mediation Directive (IMD) was introduced in early 2005 and was designed to encourage competition between insurance firms, as well as ensure appropriate levels of protection for customers, across the EU. The IDD aims to strengthen and consolidate the existing rules of IMD. The IDD, with which the UK is required to comply by 23 February 2018, concerns the distribution of insurance and reinsurance. It also covers assisting in the administration and performance of an insurance contract post-sale. The consultation paper covers the FCA's proposals for the application of the...