The European Insurance and Occupational Pensions Authority (EIOPA) on Wednesday 20 July published its guidance on the inclusion of customer sustainability preferences in adequacy testing under the Insurance Distribution Directive (IDD). This guidance is intended to facilitate the implementation of the Delegated Regulation by national competent authorities, as well as by insurance undertakings and insurance intermediaries providing advice on insurance-based investment products.
EIOPA’s advice covers a range of topics, such as how to help customers better understand the concept of ‘sustainability preferences’ and their investment choices, or how to collect information on sustainability preferences from customers.
The guidance also addresses the training and skills in sustainable finance expected of insurance intermediaries and insurance undertakings that provide advice on insurance-based investment products.
The guidelines are accompanied by a feedback statement that responds to comments received from stakeholders during a public consultation (see EUROPE 12933/18).
To consult the EIOPA guidance: https://aeur.eu/f/2qw
For the feedback statement: https://aeur.eu/f/2qy (Original version in French by Anne Damiani)