EIOPA recently published a report setting out good practices for insurance comparison websites. Key areas of focus in the report include (a) information about the comparison website (e.g. access to information about ownership and complaints handling), (b) dealing with potential conflicts of interest (e.g. disclosing the providers that have a commercial relationship with the comparison website) and (c) presentation of information (e.g. receipt of details of all fees and charges by consumers). Interestingly, the report annexes a summary of comments received by EIOPA during the consultation period. Certain of these identify concerns, e.g. the Association of British Insurers (ABI) commented that the proposed report would cover areas also captured by IMD2 and highlighted the need for clarity regarding the interplay between the good practices and European legislation such as IMD2.
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