Insurance Distribution Directive (IDD)
CII Policy Briefing
26 May 2017
22 March 2018
Policy and Public Affairs
Briefing summarising the FCA implementation of the Insurance Distribution Directive including professionalism requirements.
- The Insurance Distribution Directive (IDD) is revision of the Insurance Mediation Directive (IMD), which was introduced by the FSA in 2005. It will come into force in October 2018.
- The IDD introduces a new requirement for those staff that sell, advise on and transact insurance contracts for all types of insurance customers.
- Of particular importance is the requirement for all people within this scope to complete at least 15 hours of continuing professional development per year.
- The FCA and HM Treasury have begun consulting on implementing the IDD in time for the in force date.
This document is believed to be accurate but is not intended as a basis of knowledge upon which advice can be given. Neither the author (personal or corporate), the CII group, local institute or Society, or any of the officers or employees of those organisations accept any responsibility for any loss occasioned to any person acting or refraining from action as a result of the data or opinions included in this material. Opinions expressed are those of the author or authors and not necessarily those of the CII group, local institutes, or Societies.