Insurance directive postponed

The European Commission is to push back the application date of the Insurance Distribution Directive (IDD) by seven months to 1 October 2018, after member states called for it to be postponed. The UK and other member states must still transpose the IDD into national law by the original date, 23 February 2018. However, under the current proposals, firms will not be required to comply with the IDD until 1 October 2018. The new application date will be confirmed in an accelerated legislative procedure.