IDD transposition in Germany almost complete through guidance provided by new German regulation

By Christina Lorenz (DE), Eva-Maria Barbosa (DE) & Andreas Börner (DE) on January 15, 2019

Insurers and other insurance distributors faced significant challenges while implementing the requirements of the German law transposing the Insurance Distribution Directive (IDD). Even though the IDD was transposed into German law as of 23 February 2018, several details were not yet available due to outstanding regulations. The new German regulation, i.e. the German Insurance Distribution Regulation, effective as of 20 December 2018 (and largely corresponding to a draft thereof published in June 2018) provides guidance…

Financial services: Regulation tomorrow

BaFin says that insurers need to be prepared for substantial burdens in their implementation of the new German law transposing IDD

By Andreas Börner (DE), Eva-Maria Barbosa (DE) & Christina Lorenz (DE) on August 3, 2017

Insurers and other insurance distributors will face significant challenges while implementing the requirements of the German law transposing IDD. Impacts on distribution models, training requirements and increased duties and obligations in distribution will need to be considered. In addition, there are a number of compliance issues, such as conflicts of interest, cross-selling and considerations regarding the commission structure. With regard to insurance products there are also new requirements, such as product oversight and governance (e.g.…

Financial services: Regulation tomorrow

German law transposing Insurance Distribution Directive (IDD) passed (in revised version) – final guidance on training requirements remains outstanding

By Andreas Börner (DE), Eva-Maria Barbosa (DE) & Christina Lorenz (DE) on July 24, 2017

The legislation transposing the IDD into German law has been passed (as resolved by the German Parliament on 28 June 2017 and by the Federal Council of Germany on 7 July 2017). One of many changes will be that the transposed IDD will be applicable to all insurance distributors (Versicherungsvertreiber), including insurers. In addition to transposing the IDD generally, a few German specific aspects including the ones highlighted below have been added at the final…

Christina Lorenz (DE)

IDD transposition in Germany almost complete through guidance provided by new German regulation

BaFin says that insurers need to be prepared for substantial burdens in their implementation of the new German law transposing IDD

German law transposing Insurance Distribution Directive (IDD) passed (in revised version) – final guidance on training requirements remains outstanding

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