Survey to gather data from stakeholders for work on developing Q&As on the Insurance Distribution Directive


The Insurance Distribution Directive (IDD) (Directive (EU) 2016/97) came into force on 23 February 2016 and has to be implemented into national laws by 23 February 2018. To facilitate the implementation of the IDD, the European Commission adopted implementing measures in the form of two draft Delegated Regulations on 21 September 2017: https://ec.europa.eu/info/law/insurance-distribution-directive-2016-97-eu/amending-and-supplementary-acts/implementing-and-delegated-acts_en

The two Delegated Regulations cover:

  • Product oversight and governance requirements for insurance undertakings and insurance distributors; and
  • Information requirements and conduct of business rules applicable to the distribution of insurance-based investment products (IBIPs).

The two Delegated Regulations are due to enter into force on 23 February 2018, following scrutiny by the European Parliament and the Council of the European Union.

EIOPA has already received some questions from individual stakeholders on the IDD and its implementing measures and it is very likely that issues regarding the consistent application of IDD and the need for co-ordination between national competent authorities s will continue to emerge, before and after IDD is transposed into national laws.

With this in mind, it is helpful for both EIOPA and national competent authorities to be able to provide more clarity in the future to market participants on the application of the IDD requirements. This will in turn help to promote common supervisory approaches and practices in the application of IDD, particularly as regards conduct of business topics.

EIOPA's intention is to develop "Questions and Answers" related to insurance distribution activities by insurance distributors, focussing on issues of interpretation or application of the IDD and its implementing measures. The Q&As will have no binding force in law and will not be subject to a "comply or explain" process. However, their application will be rigorously scrutinised and challenged by EIOPA and national competent authorities given their practical significance to achieve a level-playing field.

In order to facilitate its preparatory work, EIOPA would like to collect questions from external stakeholders to build up a suitable "evidence base" for its work. The intention is to gather and group questions and run these through a filtering process, at the end of which Q&As may be produced and published. There is, therefore, no guarantee at this stage that questions submitted will each receive an individually published answer, as questions submitted will first need to be carefully analysed and assessed by EIOPA and NCAs. 

EIOPA kindly invites stakeholders to participate in this survey and to comment on the questions raised by close of business on 11 October 2017. 

EIOPA's work on gathering questions for its Q&A work will be an iterative process. Therefore, contributions are appreciated already by this date on a "best effort" basis, but also as part of an on-going exercise.

Privacy and Confidentiality Statement

Contributions received will be published on EIOPA's public website unless you request otherwise in the respective field in the survey.

Your personal data (name and contact details) are collected exclusively for the purposes described in the Privacy Statement and only authorised EIOPA staff members will have access to them.

EIOPA, as a European Authority, will process any personal data in line with Regulation (EC) No 45/2001 on the protection of the individuals with regards to the processing of personal data by the Community institutions and bodies and on the free movement of such data. More information on data protection can be found in this privacy statement or at https://eiopa.europa.eu under the heading 'Legal notice'.