On May 16, the European Insurance and Occupational Pensions Authority (EIOPA) issued a statement initiating the ‘comply or explain’ process on the Guidelines on complaints-handling by insurance intermediaries, published in November 2013.

National competent authorities must report to EIOPA whether they comply, or intend to comply, with the Guidelines within 2 months. Authorities that do not comply will need to inform EIOPA, stating the reasons. Guidelines or recommendations that a competent authority does not comply with will be made public and EIOPA may decide, on a case-by-case basis, to publish the reasons provided by a competent authority for non-compliance.

The Guidelines apply to national authorities competent for supervising complaints-handling by insurance intermediaries. The Guidelines are:

  • Ensuring the right institution deals with the complaint
  • Complaints management policy
  • Complaints management function
  • Registration
  • Reporting
  • Internal follow-up of complaints handling
  • Provision of information
  • Procedures for responding to complaints.

Competent authorities should ensure a proportionate regime when applying the Guidelines, taking into account the nature and size of intermediaries and whether insurance meditation is carried out as a principal activity or on an ancillary basis. The Guidelines should be read in conjunction with the Report on Best Practices by Insurance Intermediaries in handling complaints, also published last November.

For further information:

Guidelines on complaints-handling by insurance intermediaries

Report on Best Practices by Insurance Intermediaries in handling complaints