Insurance Distribution Directive - CPD Event

This presentation will be delivered by Alan Chandler, Chartered Insurer, who is widely regarded as one of the top insurance trainers in the UK

Insurance Distribution Directive

Register from 8.45am

9am – 10am (1 hour CPD)

The Insurance Distribution Directive (IDD) which comes into effect from 1 October this year, will have great impact on everyone in insurance and includes the need to have compulsory training of 15 hours a year for ALL insurance staff involved in insurance distribution . This has nothing to do with CII CPD it will become a legal requirement for all staff involved in insurance distribution to undertake the required training on set subjects. This will be the first time ever that a minimum stipulated number of training hours will become a legal requirement in the UK general insurance market. All insurance firms will also have to start undertaking staff checks for matters such as bankruptcies and certain previous crimes.

The IDD is also introducing more 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 will be no deviating from the way you do this summary. Rules relating to how you can create insurance products will also be changing 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, loss adjusters - they all need to be understanding these key changes. This also includes any IFA's involved in 'protection products'

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

• Understand the background and why IDD is being implemented
• Who is 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 in preparation for the changes