One of the main purposes of the Directive is to strengthen the consumer protection by introducing a common framework for the provision and sale of insurance, regardless of the sales channel. Another objective of the directive is to strengthen the competition in the European insurance market. The directive will replace the current Insurance Provision Directive (IMD) from 2005. The directive is largely based on IMD, but there are some areas that are specifically changed or sharpened.
Press here to read the Norwegian article with a summary of the most important changes and requirements.
Written by Maria Haug Edvardsen.