Commission welcomes IDD agreement: The Commission welcomed the political agreement between EP and the Council on the final form of the Insurance Distribution Directive (IDD), which will replace the Insurance Mediation Directive. The IDD will create rules for distribution and sale of insurance products which will apply regardless of whether the insurers or brokers sell the products. It will introduce transparency and disclosure rules and a professional indemnity insurance requirement. It will permit advised or non-advised sales, and will put in place rules on promoting packages of products. The next stage for the IDD is approval in plenary vote in EP. (Source: Commission Welcomes IDD Agreement)