Insurance mediation activities meaning

In this issue: Reinsurance Market practice UK Regulation EU Regulation Cases tracker Dates for your diary New and updated content Daily and weekly news alerts LexTalk®Insurance: a Lexis®Nexis community Reinsurance Law360, London reports that Swiss Re’s 8 September 2025 paper says artificial intelligence will be a “game changer” for the reinsurance sector as it contends with an ever more volatile geopolitical environment. See: AI crucial to navigate shift in insurance risks, swiss re says. Market practice On 4 September 2025, Lloyd’s of London confirmed the next stage of its long‑anticipated modernisation programme has been deferred, with go‑live now expected in 2028. See: Lloyd’s delays overhaul of markets IT until 2028. UK Regulation CP25/24: FCA consultations include PISCES penalties, UKLR buy-back notifications and contactless payment limits The Financial Conduct Authority has issued quarterly Consultation Paper No. 49 (CP25/24), proposing Handbook amendments across nine areas. Among the changes, it plans...

This Practice Note gives a high-level summary of the reach and principal provisions of Directive (EU) 2016/97, the Insurance Distribution Directive (IDD), which superseded the Insurance Mediation Directive (2002/92/EC) (IMD) with effect from 1 October 2018. It concentrates on the regulation of firms and explains who is in scope of the IDD, the regulated activities it covers and the exclusions. It also describes the IDD’s authorisation and registration requirements, passporting rights and sanctions. For further detail on the IDD, see: EU Insurance Distribution Directive (IDD)—essentials EU Insurance Distribution Directive (IDD)—organisational and conduct of business requirements EU Insurance Distribution Directive (IDD)—insurance-based investment products EU Insurance Distribution Directive (IDD)—Insurance Product Information Document requirements Scope of the Insurance Distribution Directive Who is affected? Any person or business engaged in distributing insurance and/or reinsurance products (distributors) will, unless an exemption applies, fall within the IDD. The IDD covers all market participants that distribute insurance products, thereby bringing insurance and reinsurance undertakings directly within...

This Practice Note outlines the conditions that must be met for a person to receive compensation from the Financial Services Compensation Scheme (FSCS). It summarises rules on: who can seek compensation from whom compensation may be claimed the losses or liabilities that can be compensated There are separate regimes within the FSCS for deposit claims, non-deposit claims, and insurance policyholder protection. The Prudential Regulation Authority (PRA) sets the rules for deposits and insurance, while the Financial Conduct Authority (FCA) is responsible for other FSCS-covered activities. The relevant provisions appear in the COMP sourcebook of the FCA Handbook and in the Depositor Protection and Policyholder Protection parts of the PRA Rulebook. Compensation paid to eligible claimants Claims under COMP For claims falling within the FCA’s scope, the FSCS may pay compensation to an eligible claimant (subject to COMP 11 (Payment of compensation)) where the FSCS is satisfied that: an eligible claimant has submitted an application for compensation...