Insurance sales : Compromise aims to protect consumers

Insurance sellers will have to provide detailed information to consumers and will be subject to stricter transparency rules under a political compromise drawn up on the evening of 30 June by the European Parliament and the Latvian EU Presidency. The compromise on the review of rules on insurance distributution (IMD II, insurance mediation directive) aims to enhance consumer protection from a wide range of insurance products (some of which are excluded from the scope of the directive). However, rules on…