This bumper edition of the Intermediary Times focuses on the key
supervisory and regulatory issues that affected insurance
intermediaries in 2018. The newsletter includes articles on:
Brexit contingency planning; the Intermediaries Road Show; the
2018 Central Bank funding levy; findings from the Central
Bank's thematic inspections regarding Managing General Agents
and the Sale of Gadget Insurance; CPD requirements under the
Minimum Competency Code for grandfathering applicants; and
observations from recent Anti-Money Laundering
(AML) inspections.
Following feedback received by the Central Bank on the industry
funding level, the Central Bank has made some amendments to the
Intermediary Funding Model. All firms are now required to pay the
minimum levy of €1,020. Firms whose fee and commission income
exceeded €200,000 in 2018 are also required to pay an
additional variable levy rate of 0.32% of their income.
