European Commission Announces Delay to Insurance Distribution Directive

The European Commission has made a proposal to delay the start date of the Insurance Distribution Directive (IDD). It has requested that the new implementation date should be moved to the 1st of October 2018, seven months later than the originally planned date of February 23rd, 2018.

The delay is intended to give insurers more time to prepare for the implementation. EU member states are still required to turn the directive into law by February 23rd, however, insurers won’t have to comply with it until the 1st of October.

For more information on the proposed delay of the Insurance Distribution Directive, click on the following link.