Industry needs to combat EU directive

Financial advisers and the international life offices whose products they sell have cause for concern. The EU Insurance Mediation Directive came into force on 15th January. This directive introduces a new regime for the conduct of insurance business in the European Union. What is happening now in Europe happened in the UK from 1997. In the name of consumer protection, new laws were passed, regulations made and the means for their enforcement established. The regime was more onerous than the system which preceded it. The insurance directive stipulates that to sell our offshore products ...