In the following period, new changes regarding the European insurance legislation are expected. "Regarding IDD - Insurance Distribution Directive, in Germany we have made progress as far as the implementation process is concerned and we expect the IDD specific legislation to be enforced by this summer, taking into account the fact that we have elections coming up this autumn", Lenka de MAURO, Deputy Head of Office GDV - German Insurance Association - European Office, explained during the Insurance Market Trends Conference at FIAR 2017.
"This document will also include delegated acts which we are currently waiting for and which we believe will be taken into account by the European Union", Lenka de MAURO added.
She also pointed out that February 23, 2018 is the deadline for the implementation of IDD. "If we enforce the law by this summer, the insurance industry will have half a year to implement it, but this period of time can be even shorter than that. This is a problem that affects all the legislative norms in the field and the time is short".