Confusion still reigns over use of IDD

The Aifa says it NOT mandatory for IFAs to use the IDD, provided their terms of business meet the new requirements under general insurance regulations. Information IFAonline published earlier today had suggested financial intermediaries are required under the Insurance Mediation Directive to issue IDDs on any insurance contract from tomorrow. According to officials at the Personal Finance Society, financial intermediaries who contacted the FSA’s helpline - seeking clarification on when to use the IDD – had been receiving confused guidance from the FSA whether they are required to use ...