Insurance Distribution Directive

For intermediaries only

The Insurance Distribution Directive (IDD) is a European Union (EU) directive which updates and expands existing insurance regulation, with the aim of improving consumer protection. Any firms manufacturing or distributing insurance products must comply. These requirements apply across various types of insurance contracts and impact various businesses within Aegon, including:

  • life insurance;
  • protection, and
  • pensions written as contracts of insurance.

The IDD is due to be implemented on 1 October 2018

The IDD regulates the way insurance products are sold, including cross borders. It sets out the information that consumers should receive before they sign an insurance contract. It also imposes additional conduct of business and transparency rules on distributors.

The EC also adopted two Delegated Regulations under the IDD in September 2017. They lay out rules on product oversight and governance, on information requirements and conduct of business rules for distribution of insurance based investment products (IPIDs).

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