Lawyers highlight impact of IMD on aggregators
Law firm Norton Rose has claimed that aggregators, claims managers and loss adjustors will be most heavily impacted by the changes proposed in the new text of the Insurance Mediation Directive II.
The British Insurance Brokers' Association has already hit out over the proposals to bring in compulsory commission disclosure over five years. In addition the Association of British Insurers has questioned the need for compulsory disclosure for general insurance products.
David Whear, partner at Norton Rose, commented: "Perhaps most significant are the boundaries the revised directive draws for the kind of activity and organisations that are captured by the directive.
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