On Thursday 21 September, the European Commission adopted new standards on the oversight and governance of insurance products, and on the application of the rules of conduct by vendors of life assurance products.
The new rules – adopted in the form of two delegated acts stemming from the directive on insurance distribution, which the member states must transpose by 23 February 2018 – “will, for the first time, oblige insurers to prioritise the interests of consumers when designing,...