About this initiative
Delegated regulations enable the Commission to supplement or amend non‑essential parts of EU laws. For example, in order to define detailed measures related to a law.
The Commission prepares the draft and adopts the delegated act after consulting expert groups, composed of representatives from each EU country. If Parliament and Council have no objections, the act enters into force. It then becomes directly applicable in all EU countries.
COMMISSION DELEGATED REGULATION (EU) …/... supplementing Directive (EU) 2016/97 of the European Parliament and of the Council with regard to product oversight and governance requirements for insurance undertakings and insurance distributors
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Give your feedback
20 July 2017 - 17 August 2017
The Commission would like to hear your views.All feedback
We welcome the European Commission proposal for a Regulation on Product Oversight and Governance Requirements and support the response to this consultation issued by Bipar, the European Federation of Insurance Intermediaries. For the sake of legal clarity, we respectfully request a confirmation in the Regulation that POG requirements are not applicable to large risks. The Insurance Distribution Directive mentions this clearly in paragraph 4 of...
Austrian Federal Economic Chamber Division Bank and Insurance (Austria)
See attached file
CNCIF - CHAMBRE NATIONALE DES CONSEILLERS EN INVESTISSMENTS FINANCIERS (France)
If we agree that manufacturers shall continuously monitor and regularly review insurance products they have brought to the market, shall identify issues and take appropriate action, we consider that they couldn’t systematically inform customers about the remedial action taken as they might have no direct contact with the concerned customers. Moreover, we consider that manufacturers should inform insurance distributors not only about the...
Draft DA on product oversight and governance requirements for insurance undertakings and insurance distributors GAIPARE feedback As one of France association of life insurance policy holders with 44000 members, we, GAIPARE, would like to thank the European Commission for the opportunity to give a feedback for this draft. We share the position of the German Bund der Versicherten, which is expressed in a specific document and quoted below. We...
BIPAR (European Federation of Insurance Intermediaries) (Belgium)
Please find attached BIPAR comments on the IDD DA on product oversight and governance requirements for insurance undertakings and insurance distributors (POG)
Austrian Insurance Association (VVO) (Austria)
VVO remarks on the Delegated Act on product oversight and governance (POG) General comments The Austrian insurance industry welcomes the current version of the delegated act as it reflects the principle of proportionality in several aspects. This ensures that the complexity and the features of an insurance product including its potential consumer detriment are appropriately taken into account. From our point of view the delegated act should...