More than a quarter of brokers still unaware of IDD as October deadline looms
Only 8% of brokers say they “know everything they need to know” ahead of new legislation coming in on 1 October.
Research by Ecclesiastical has revealed that 27% of brokers are still completely unaware of the Insurance Distribution Directive (IDD) despite needing to be fully compliant by 1 October 2018.
The interviews with a pool of 200 brokers found that only 31% feel fully prepared while 17% admitted they are not ready to comply.
The majority, 52%, said they still need further training in key areas such as governance, product terms and conditions, and assessing customer needs.
The percentage of
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