The European Parliament and the Council of the European Union adopted the Insurance Mediation Directive (IMD) in 2002. The aim of the IMD was: (1) The introduction of a single passport. This meant that the insurance intermediary (IIM) would register with the Home Member State which would then inform the relevant Host Member State of the IIM's intention to offer cross-border services or to establish a branch operation. (2) The protection of the consumer at a European level by, for example, establishing professional requirements for IIMs. (3) The establishment of good cooperation between the competent authorities of the Home and Host Member States.

In 2006, CEIOPS concluded the Luxembourg Protocol. This developed the procedure for the exchange of information and co-operation in the supervision of cross-border activities of the IIMs and to facilitate their single registration in the EU.

Following the conclusion of the Luxembourg Protocol CEIOPS instructed its Insurance Mediation Expert Group (IMEG) to provide a status report on the implementation of the key provisions of the IMD. CEIOPS has now published the report on the implementation of the IMD's key provisions. The report is based on the responses that IMEG Members gave to a questionnaire that was issued in September 2006. The report begins with comments on the national implementation laws and the national competent authorities. The report then focuses on the key issues and summarises the answers received to the questionnaire.

The report concludes that all Member States have adopted at least the minimum standards set out in the IMD. In some cases Member States have adopted stricter regulations. The report also concludes that there is a need to clarify some of the terminology in the IMD. The report states that tackling the issues concerning terminology and impractical requirements is beyond its scope. However, the report states that CEIOPS intends to make suggestions for amending the IMD and the Luxembourg Protocol with a view to improving the regulation of cross-border services and enhancing consistent supervision of IIMs.