European Institute of Management and Finance | The Insurance Distribution Directive (IDD)
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The Insurance Distribution Directive (IDD)

The requirements of Insurance Distribution Directive (IDD)

The Insurance Distribution Directive (IDD) is the proposed recast of the Insurance Mediation Directive that would update the regulation of insurance selling practices. The IDD was formerly referred to as IMD II; the name was changed in September 2014 to reflect the focus on regulating the distribution of insurance products. The most controversial change proposed was the requirement for mandatory prior disclosure by intermediaries of the nature (fee and/or commission), basis and amount of any remuneration received.

After debate, the current draft settles on pre-contractual disclosure of the intermediary and the nature, not amount, of their remuneration (whether commission, fee or other type of arrangement).Other proposals include extending the scope of the regulations to direct sales; stricter, MiFID-based requirements for the sale of products with investment elements; and additional rules for the sale of bundled products.

Seminar Content:

  • European Insurance Legislation – Is IDD the respective Solvency II for insurance distribution?
  • Introduction to the basic characteristics of IDD – Areas of interest
  • Register of Insurance Distributors
  • Organizational requirements
  • Professional Conduct and transparency / conflict of interest
  • Additional requirements for Insurance Investment Products
  • Supervision and penalties

Who should attend:

  • Insurance Professionals (sellers of insurance products, including insurance undertakings selling directly to its customers; persons whose activities consist of assisting in the administration and performance of insurance contracts. ancillary insurance intermediaries)
  • Financial Services Professionals
  • Members of Academia
  • Bankers
  • National Institutions
  • Regulating Bodies.

DATE: 2 June

DURATION: 5 Hours

LOCATION: EIMF Premises, Nicosia

TIME: 09:00 – 14:00

FEES: €160 + VAT

Registration Form

Download Registration Form

You can register by sending the completed registration form above to info@eimf.eu or via fax to 2227 4475. If you need help completing the form, please give us a call at 2227 4470

In-House Training

If you would like to discuss bringing this or another topic to your organization on an in-house basis please call us at 22274470 or email us at info@eimf.eu.

Instructor: Ms Myrto Hambaki

Myrto Hambaki studied economics at the University of Leicester where she received her master’s degree in European and Federal Studies. She has a 20-year experience in various managerial positions in the broader financial sector: Deloitte Greece, the Bank of Cyprus Greece, and the Hellenic Association of Insurance Companies.

Her current position is as a Senior Manager at Risk Management Services of Sol Consulting. Ms Hambaki is an expert trainer of specialized courses mainly for executives in the sector, she is a prominent writer and columnist in her field, and she has also served as a member of the Legislative Drafting Committee for the adaptation of the Solvency II Directive in Greek law. She has recently published a book titled “Solvency II – The big picture” with Insurance Innovation publishings.