Countdown to commission disclosure
As mandatory commission disclosure rears its head again, Tony Cornell asks what effect it could have on the general insurance market
The European Commission published its proposed revisions to the Insurance Mediation Directive in July and has come down firmly in support of the mandatory disclosure of commission. However, for general insurance, there is a five-year delay after the directive is adopted. This probably means 2019. In the meantime, on request commission disclosure will apply with customers being informed of their rights to ask for this information.
However, the Commission has stated it will undertake a review of
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