IMD
On 30 September 2002, the Council of Ministers of the EU adopted the Directive on Insurance Mediation (IMD). Having consistently campaigned for such EU legislation for a number of years, BIPAR welcomed this IMD.
The IMD main objectives are to ensure a high level of consumer protection and to promote a Single Market for insurance intermediation.
According to the IMD, the activities undertaken by an insurance intermediary include the “introducing, proposing or carrying out other work preparatory to the conclusion of contracts of insurance, or of concluding such contracts, or of assisting in the administration and performance of such contracts, in particular in the event of a claim”.
IMD: Directive 2002/92/EC of 9 December 2002, EC Official Journal L9, Volume 46, 15 January 2003
