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By Nessym Jules TIR, Avocat/Partner, Global Compliance Regulatory Investigations, Wolff Partners SCS, Attorneys at law
A sophisticated regulatory framework
The Insurance Distribution Directive (IDD) requires the implementation of very demanding compliance and due diligence systems.(1) Binding on intermediaries and direct sales by insurers, this EU directive specifies that the insurance distributor must act honestly, fairly, and not misleadingly.
Insurers are required to implement an approval process for each insurance product by putting in place a Product Oversight and Governance (POG) framework : POG requirements aim at ensuring that the interests of customers take prime importance during...
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