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ARTICLE · 16 APRIL 2021

IN SHORT: Insurance Distribution Directive – Clarifications On Legal Interpretation Published By EIOPA

William Fry LLP
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On 23 March 2021, EIOPA published a series of questions and answers (Q&A) on its interpretation of certain Insurance Distribution Directive (IDD) provisions and its implementing measures.

IrelandInsurance
Eoin Caulfield
Eoin Caulfield
John Larkin
John Larkin
Ian Murray
Ian Murray
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Catherine Carrigy
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On 23 March 2021, EIOPA published a series of questions and answers (Q&A) on its interpretation of certain Insurance Distribution Directive (IDD) provisions and its implementing measures. Answers to eight questions were provided by the European Commission (the Commission).  The Q&A are part of a joint process involving EIOPA and the Commission to help ensure that European regulation is applied consistently and effectively across all EU Member States. 

The Q&A addresses several issues relating to the application of product oversight and governance requirements.  These include:

  • what constitutes a "significant adaption of an existing product";
  • whether testing and product review are required for existing products; and

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