On 1 February 2018 the Polish Parliament adopted the act amending the Polish Insurance Distribution Act (“IDA”) that implements the EU’s Insurance Distribution Directive (“IDD”) in Poland. The aim of the amendment is to delay the IDA’s application date by seven months, i.e. to 1st October (instead of 23rd February) 2018. This is related to the European Commission’s proposal to push back the application date of the IDD.
However, the change of the application date of the IDA is not certain yet. The amendment to be legally effective still needs to be signed by the Polish President and then officially published in the journal of laws. The President may want to wait with signing the amendment until the European Parliament and the Council formally decide to change the IDD’s application date from 23rd February to 1st October 2018. This can be tricky, since according to the European Parliament’s website, the directive amending IDD will be considered only on 1 March 2018 which is after the original date of the IDD’s coming into force.