Jakie zmiany dla polskiego rynku ubezpieczeń przyniesie Dyrektywa w sprawie dystrybucji ubezpieczeń?
What changes will the Directive on insurance distribution bring to thePolish insurance market?

Summary/Abstract: The recently adopted Directive 2016/97 of the European Parliament and of the Council of 20 January 2016 on insurance distribution is one of the most important legal acts with the principal aim of de- veloping the sale and management of insurance products. Its scope applies to any natural or legal person who is established in a Member State or who wishes to be established there in order to take up and pursue the distribution of insurance and reinsurance products. Therefore, the IDD directive has application to both insurance intermediaries and employees of insurance companies. Its main objec- tive is to provide customers with better and more objective advice on insurance services, based on analysis of their needs. The IDD directive requires that member states’ national provisions ensure suf- ficient regulations on the management of conflicts of interest, in particular in the area of disclosure of information, including information about the status of the persons who sell insurance products and the type of remuneration which they receive. In accordance with the provisions of that directive, insurers and intermediaries who prepare any insurance product for sale to customers are obliged to maintain, operate and review a process for the approval of each insurance product, or significant adaptations of an existing insurance product, before it is marketed or distributed to customers. Another important im- provement introduced by the IDD directive is the so-called “insurance product information document,” a form which should provide standardised information about non-life insurance products. In particular, the directive stresses the need to ensure the training and development of professional salespeople.The provisions of the directive provide for the possibility of laying down rules for administrative and criminalsanctions for the breach of required sales standards. Therefore, implementation of the IDD directive is one of the major challenges for the Polish insurance industry and intermediaries carrying out economic activity, including banks. The detailed shape of the IDD directive’s implementation will be essential in guiding further development and incomes generated by the insurance sector.

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