EIOPA has published its final report and guidelines on product oversight and governance arrangements by insurance undertakings and insurance distributors. The guidelines provide support for national authorities in preparation for formal requirements under the Insurance Distribution Directive. They require firms to include appropriate steps to identify the group of consumers for whom the manufacturer is designing the product and the target market for each product. They must align this product with the relevant interests and objectives of the target market and ensure the usage of appropriate distribution channels. (Source: EIOPA finalises guidelines on product oversight and governance)