Summary
The European Parliament has approved new insurance product governance rules but suggests delaying their application until October 2018 to give the industry time to prepare. 10 25.10.2017
Other
finance
business and competition
Key points
In force from 23/02/2018
- The European Parliament approves new oversight rules for insurance products.
- The rules apply to insurance companies and distributors as defined in the existing insurance distribution directive.
- Industry players require additional time for technical and organizational changes.
- The Parliament suggests the new rules should officially start applying on October 1, 2018.
Documents (PDFs)
RECOMMENDATION FOR A DECISION to raise no objections to the Commission delegated regulation of 21 September 2017 supplementing Directive (EU) 2016/97 of the European Parliament and of the Council with regard to product oversight and governance requirements for insurance undertakings and insurance distributors
Non-objection to a delegated act: product oversight and governance requirements for insurance undertakings and insurance distributors
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