The Commission has asked CEIOPS to help it decide how it should revise the Insurance Mediation Directive to take account of Solvency II. CEIOPS’ previous work on the IMD has shown various approaches to implementation and some problems caused by Member States gold-plating the IMD. It has asked CEIOPS to advise on:
- the legal framework of the IMD (whether to move to a Lamfalussy approach);
- the scope of the IMD (and how to include mediation activities of insurers as well as what should be conditions for exemption from the IMD);
- improving legal certainty on the position of third country intermediaries;
- professional requirements;
- improving cross-border notifications and how the passport works;
- conflict management and transparency; and
- reducing the administrative burden.
It wants CEIOPS’ advice by the summer.