CEA comment on Insurance Mediation Directive
The European insurance and reinsurance federation (CEA) has set out its views on the European Commission’s review of the Insurance Mediation Directive (IMD).
Speaking at a public hearing last week, the CEA’s single market committee chair, Alastair Evans, said: “Insurance distribution channels vary across markets and this existing adaptation to national habits should remain possible in the future.”
He went on to explain that the Federation believes the review should focus on the “true needs” of consumers and that the directive should be flexible enough to adapt to local needs and diversity between markets.
Expressing the CEA’s support for a high level of consumer protection for all insurance buyers, Mr Evans also called for a proportionate approach when considering the rules that should be applied to different distribution channels.
Finally, the CEA has welcomed the importance the EC places on high-level principles on selling practices and says it has developed a Key Information Checklist to help policyholders better understand the key features of unit-linked life insurance.
Category: Insurance News
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