CPD Breakfast Seminar - IDD A Year On

The Insurance Institute of Cardiff invite you to a CPD breakfast seminar on IDD A Year On hosted by Alan Chandler.

Event Details:

Holiday Inn, Cardiff North (M4 J32), Merthyr Road, Cardiff, CF15 7AD

Thursday 28th November 2019, 08:30 for refreshments, with a prompt 09:00am start (to be finished at approx 10:30am).

The event will be presented by Alan Chandler.

The Presentation will cover the following:

The Insurance Distribution Directive (IDD) a year on - this is a must for anyone working in insurance distribution which is almost everyone employed by an insurer, broker, loss adjuster or IFA. It does not just apply to sales staff.

If you work in General insurance or in a PFS function then you have to show compliance with these new requirements, yet many remain non-compliant with the requirements of this industry changing directive. There is an incorrect myth doing the rounds that this directive only applies to sales staff, that is incorrect, it applies to EVERYONE.

The IDD is having a great impact on all insurance staff and includes the need to have compulsory training of 15 hours a year on eight different areas for ALL insurance staff involved in insurance distribution. This has nothing to do with CII CPD, it has become a legal requirement for all staff involved in insurance distribution to undertake the required training on set subjects. This is the first time ever that a minimum stipulated number of training hours has become a legal requirement in the UK general insurance market!

The IDD has also introduced staff checks that must be undertaken, detailed rules on disclosing the source of a brokers income and very strict and precise rules on what a policy summary must look like for consumer customers- there is no deviating from the way you do this summary. Rules relating to how you can create insurance products have also changed and those involved in new product creation will have to demonstrate their expertise.

This will be suitable for anyone on the general insurance side involved in insurance distribution, so brokers, underwriters, claims staff and loss adjusters. It is also relevant to IFAs, everyone needs to be understanding these key changes.

The learning objectives for the Insurance Distribution Directive are as follows:

• Understand the background and why IDD has been implemented
• Who it applies to
• Describe what the changes are
• Explain what the impact is on insurance firms and the impact on customers
• Describe what firms should be doing to comply with these changes