AMII chair calls for IDD prep as 'ignorance will be no defence'

The Insurance Distribution Directive (IDD) is designed to ensure appropriate levels of protection for insurance customers across the EU. It will apply to both retail and commercial customers, including those of insurance and reinsurance companies, intermediaries, other firms, insurance market customers and representative groups as well as any professional bodies conducting insurance distribution activities. The legislation was originally meant to come into power in July but was deferred for revisions, meaning applicable firms now have until 1 October to comply with the new laws. 'N...