Centro de Documentacion de Fundación MAPFRE - The New insurance distribution regulation in the EU- A critical assessment from a legal and economic perspective

Notes: Sumario: The new Insurance Distribution Directive (IDD) regulates insurance distribution more precisely and more comprehensively than the former Insurance Mediation Directive (IMD). For one thing, all insurance distributors will now be encompassed; for another, there will be a substantial in crease in the obligations relating to information, advisory services, documentation and business conduct. Considering the effort and expense involved, this raises the question of possible benefits. In this article, the IDD provisions are assessed for tbe first time with a focus on Europe and from both a legal and an economic perspective. There are regulations that are considered positive from both perspectives (e.g. the Insurance Product Information Document in the non-life segrnent), others that are viewed rather critically from both perspectives (e.g. product oversight and govemance requirements) as well as those that are partly assessed differently (e.g. conduct ofbusiness rules). Al! in all, the IDD appears to be associated with over-regulation in sorne areas. The legislator should subject these areas to critica! scrutiny at the time of the IDD review after 3 years. Related records: En: Geneva papers on risk and insurance : issues and practice. - Geneva : The Geneva Association, 1976- = ISSN 1018-5895. - 01/10/2018 Volumen 43 Número 4 - octubre 2018 , p. 704-739Materia / lugar / evento: Distribución de seguros Perspectivas económicas Mercado de seguros Normativa comunitaria Unión Europea Otros autores: Brommelmeyer, Christoph
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