0370 270 6000

already registered?

Please sign in with your existing account details.

need to register?

Register to access exclusive content, sign up to receive our updates and personalise your experience on brownejacobson.com.

Privacy statement - Terms and conditions

new Insurance Distribution Directive application deadline announced

15 February 2018

EU ambassadors confirmed yesterday that new dates for the transposition and application deadlines for the Insurance Distribution Directive (the Directive) had been agreed following the European Commission’s proposal to delay them in 2017. Following this proposal the new date for transposition is now 1 July 2018 with the application deadline to be 1 October 2018.

The European Parliament and the Council are not expected to adopt the amending directive before March 2018 therefore the delay will apply retroactively from 23 February 2018, the original deadline for application of the Directive. In practice, this means the delayed timetable will apply from 23 February 2018, regardless of the fact that it will be legally adopted in March 2018.

The Directive seeks to improve retail insurance rules in a manner that will facilitate market integration, establish the conditions necessary for fair competition between distributors of insurance products; and strengthen policy holder protection.

At the time of proposal, the industry broadly welcomed the delay. It is envisaged that the delay will enable the industry to better prepared for the Directive and provides an appropriate amount of time to properly implement the requirements and comply with the rules, which were issued in September 2017.

Going forward, it is extremely important that that insurers and distributors make clear plans for the implementation of the Directive as the 1 October 2018 is only eight months away.

related opinions

SFO fail to secure individual criminal convictions following Deferred Prosecution Agreement

On 16 July 2019 the Serious Fraud Office released details of the Deferred Prosecution Agreement reached with Sarclad Ltd in July 2016.

View blog

Clarification by the court on causation and loss in brokers negligence claims

The UK court has recently clarified the law in relation to causation and loss in broker’s negligence claims in the case of Dalamd Limited v Butterworth Spengler Commercial Limited [2018] EWHC 2558.

View blog

Risk warning: independent contractors

Various Claimants v Barclays Bank is a claim in vicarious liability arising from sexual assaults perpetrated by an independent doctor conducting health examinations on employees and prospective employees of Barclays Bank, on the bank’s behalf.

View blog

Vicarious liability and independent contractors

The Court of Appeal’s judgment in the case of Barclays Bank plc and Various Claimants has been handed down.

View blog

mailing list sign up



Select which mailings you would like to receive from us.

Sign up