Welcome to the UKGI weekly regulation update service for Aviva ABC brokers

Link(s):

Third IDD application report – European Insurance and Occupational Pensions Authority 3rd Report on the application of the Insurance Distribution Directive (IDD) EIOPA-26-078 – Survey results on the insurance intermediaries’ market structure and patterns of cross-border activities.xlsx Factsheet – 3d IDD application report.pdf

Context

EIOPA has published a report, which is the third to be published by EIOPA, assessing developments in the EU insurance distribution market and evaluating the impact of the IDD on consumers, distributors and supervisors during 2024–2025.  Alongside the report it has also published associated survey results and a brief summary.

Key points to note and next actions

The report draws on two surveys conducted with national competent authorities, as well as feedback gathered from a public event in April 2025 and EIOPA’s Insurance and Reinsurance Stakeholder Group (IRSG).  The report is broken down into the following sections:

• Changes in the EU Insurance Distribution Market
• Impact of the Regulatory Framework, which includes:
  • Level of professionalism and competence of insurance distributors
  • Digitalisation and growth of new distribution models
  • Impact of the IDD on the quality of advice and selling methods
• Impact on the Supervisory Framework, which includes
  • Supervisory concerns arising from the application of conduct of business requirements in relation to:
    • Product oversight and governance
    • Conflicts of interest and remuneration
    • Cross-selling of financial products