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European Union

EU IDD regime for IBIPs: conflicts, disclosures, inducements, suitability and appropriateness, sustainability preferences, KID/PRIIPs interaction, reporting, record-keeping, product governance and cross-selling obligations for insurers and insurance intermediaries

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Practice notes
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This Practice Note outlines the requirements for insurance-based investment products (IBIPs) under Directive (EU) 2016/97, the Insurance Distribution Directive (IDD), which superseded the Insurance Mediation Directive (2002/92/EC) (IMD) effective 1 October 2018. It concentrates on the rules applying to IBIPs on conflicts of interest, information provided to customers, and suitability and appropriateness, including those found in Commission Delegated Regulation (EU) 2017/2359 (IDD IBIPs Regulation), which supplements the IDD. For more on the IDD framework, refer to Practice Notes:

  • EU Insurance Distribution Directive (IDD)—essentials
  • EU Insurance Distribution Directive (IDD)—organisational and conduct of business requirements
  • EU Insurance Distribution Directive (IDD)—scope, registration, passporting and sanctions
  • EU Insurance Distribution Directive (IDD)—Insurance Product Information Document requirements

What are insurance-based investment products?

Under the IDD, an IBIP is defined as ‘an insurance product which offers a maturity or surrender value, where that maturity or surrender value is wholly or partially, directly or indirectly exposed to market fluctuations’. The definition mirrors the one in Regulation (EU) 1286/2014 on key information documents (KIDs) for packaged retail and IBIPs (PRIIPS) (the PRIIPS Regulation). The PRIIPS Regulation sets out the requirements for a standardised disclosure document, known as the KID, that...

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Web page updated on 21/05/2026

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