Scope:

IDD applies to all insurance distributors:

Insurance and reinsurance undertakingInsurance intermediaries as main professional activity (brokers, insurance representatives) and as secondary occupation (ex: car rental companies)
Online insurance comparators

Objectives:

Strengthen customers protection, especially for unit-linked life insurance products

Enhance the relevance and objectivity of advice in insurance subscription

Harmonize the regulatory framework for insurance products in EU

Strengthen penalties and widens the scope of intervention of competent national authorities

Facilitate cross-border activities of insurance companies

Align regulatory framework for all insurance distributors on sales approach and duty to provide advices