for Insurance Firms
Details
Description
This course is designed to familiarise you with the main provisions of the Insurance Distribution Directive (IDD), which came into effect in October 2018.
Following Brexit, the Insurance Distribution (Amendment) (EU Exit) Regulations 2019 ensured that IDD requirements were incorporated into UK law. These provisions are now embedded within the FCA's rules and Handbook, and it is these UK rules - rather than the original EU Directive - that firms and individuals are required to comply with today.
Please note: The FCA is currently undertaking a programme of regulatory simplification, which may result in some of the requirements covered in this course being amended or replaced with UK-specific rules. Where this is the case, the most current and up-to-date treatment of each topic can be found in the relevant courses across the wider eLearning suite, where rules and requirements are reflected in their latest form.
This course should therefore be treated as an overview of the IDD's original provisions (although we do highlight significant changes) - for current regulatory requirements, always refer to the applicable course material and any guidance issued by the FCA or your compliance team.
This course does not have a formal assessment as it offers an overview of the original IDD provisions for information purposes only.
Objectives
By the end of this course the reader will be able to:
- Identify the key requirements of the Insurance Distribution Directive
- Be aware of the key differences between the Insurance Distribution Directive and the preceding Insurance Mediation Directive
- Ensure that their organisation is compliant or working towards compliance with the provisions of the Insurance Distribution Directive as well as their trading partners
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Zing365 has been a leading provider of training & development services to the UK insurance market since 2000 and is based in Bristol, England.
