FERMA is concerned that the revised version of the Insurance Mediation Directive does not treat all insurance buyers equally particularly when it comes to standards of disclosure. In the current version of IMD2, only individual policyholders and small businesses would be entitled to disclosure of their intermediary’s remuneration. Continue reading
Tag Archives : IMD2
The Insurance Mediation Directive revision (IMD 2) entered its active parliamentary phase about three months ago, and its schedule is already suffering delays of several months, shifting from May to July for its final adoption.
Over this period, FERMA will continue to press its view strongly for changes to the directive to provide greater protection for the corporate insurance customer. Continue reading
FERMA believes that all insurance buyers are entitled to a minimum European standard of disclosure in the revised Insurance Mediation Directive (IMD2).
At present, the Directive only covers consumers and small businesses. It does not protect:
Large risks, typically those insured by FERMA members
What are called professional customers, including many medium sized enterprises
FERMA has restated this opinion to the European Parliamentary Economic and Monetary Affairs Committee which is now considering the draft Directive. It will go to Parliament for a final vote in July.
This is the view FERMA has strongly expressed in a position paper to the Parliamentary Economic and Monetary Affairs Committee which will consider the draft directive before it goes to Plenary for a final vote in July. Continue reading
he inclusion of experts who deal with insured losses in the draft Insurance Mediation Directive 2 (IMD2) is intended to protect consumers, but could have a considerable effect on commercial insurance buyers. Continue reading