On 7 February, EIOPA as part of its work on the detailed rules for the Insurance Distribution Directive, published its draft implementing technical standards on the Insurance Product Information Document (IPID).
Under the proposed design of the IPID, the key features of nonlife insurance products are presented in a simple and easy to understand question & answers format. EIOPA proposes that the summary should have a maximum length of 2 A4 pages or up to 3 pages where the need for this can be established. The design also takes into account how information will be presented via digital media, for example, it allows for the adjustment of the layout of information on the small screen of a mobile device. A draft standard template is attached in the Annex to the draft implementing technical standards.
A link to EIOPA's press release is here.
A link to the draft implementing technical standards submitted to the European Commission is here.
A link to the final report with consolidated feedback is here.