Insurance Distribution Directive – new Danish regulation
The Insurance Distribution Directive (IDD) was implemented in Denmark in October 2018. A new Regulation on the competencies of employees of insurance distributors entered into force 1 July 2020. The regulation is aimed at ensuring a high level of professionalism amongst distributors of all kinds of insurance products including reinsurance. The regulation differentiates between complex insurance products including life- and pension plan products and non-complicated consumer insurances. The Regulation sets out the various requirements for examines and on-going education.