IDD delayed

2nd February 2018

BIBA’s  lobbying with UK and European parliamentarians has borne fruit and agreement has been signalled that the implementation date for the Insurance Mediation Directive will be delayed.

The EU Commission has confirmed that the European Parliament and Council have both agreed to delay the application of the Insurance Distribution Directive (IDD) until 1 October 2018. (With the national implementing law required by 1 July 2018).

The legal changes are complicated with retroactive legislation required in March, but we are delighted that the Commission has confirmed that will be happening.

This is excellent news for brokers who were concerned about readiness to comply by 23 February, and a big 2018 Manifesto win.

You can get more details at IDD_ Transposition_ gov.uk