IDD – time to plug any gaps | Bovill in Compliance Monitor

Umar Mohamad, insurance regulatory expert, was featured in Compliance Monitor. Umar said that some firms are struggling with prescriptive product governance requirements as well as with handling conflicts of interest.

The Insurance Distribution Directive is an updated framework for those involved in insurance activities. The IDD went live for firms on 1 October 2018 and brings new reporting, disclosure and organisational obligations for those within its scope. With just a few exceptions, that scope includes virtually any organisation involved in the distribution of insurance or reinsurance, from insurers and intermediaries to aggregators. The IDD also spans all types of insurance, from life assurance to motorcycle insurance.

Read the full article in Compliance Monitor to find out how you can plug any unwanted gaps.

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