Towards IMD II
On 26 November 2010, the European Commission issued its consultation paper on the revision of the IMD. The Commission is seeking to improve transparency and to establish a level playing field between the sales of insurance products through insurance intermediaries and those sold by insurance undertakings.
Changing regulation is extremely disruptive for all firms and in particular for smaller companies, however BIPAR recognizes that the world moves on and that regulation dating back to 2002, like the IMD, may benefit from a revision and some adaptations.
After consulting its member associations, BIPAR submitted its response to the Commission’s consultation.
IMD II - EIOPA's consultations: complaints handling, IORPs, variable...
