Regulatory AlertsGuidelines for Insurance Undertakings Regarding the Distribution of Insurance
The Polish Financial Supervision Authority issued guidelines requiring insurance undertakings to standardize distribution practices across all channels to ensure consistent customer protection and market fairness. The document mandates strict governance structures, internal control systems, and conflict-of-interest protocols, while prohibiting payments to policyholders and enforcing transparent, comprehensive information disclosure. It specifically regulates third-party payment contracts by guaranteeing beneficiaries' direct claim rights and requiring detailed product information, including investment risk assessments for financial insurance products.
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