European Commission proposes to delay IDD by seven months

The European Parliament and 16 member states have requested the delay. "Despite the foreseen transposition period and the fact the date of entry into application was well-known to stakeholders, it appears some insurance distributors, especially smaller ones, are not yet fully ready for the new rules," the European Commission has said.   In order to align the application dates, the commission is also proposing to postpone the application of two IDD-delegated regulations to 1 October. Member states are still required, however, to transpose the IDD into national law by the original da...