IDD
Insurance Distribution Directive
Definition
The EU directive establishing rules for the distribution of insurance and reinsurance products, replacing the earlier Insurance Mediation Directive. IDD introduces conduct of business requirements, product oversight and governance, remuneration disclosure, and specific rules for insurance-based investment products.
Regulatory Context
IDD aims to ensure a level playing field across insurance distribution channels and enhance consumer protection. It applies to all entities involved in selling insurance, including insurers, brokers, agents, and ancillary intermediaries.