RegAlert2022-08-02
Added · Updated
Commission Delegated Regulation (EU) 2017/2358 on product oversight and governance for insurance undertakings and distributors
This Regulation establishes product oversight and governance requirements for insurance undertakings and insurance distributors that manufacture or distribute insurance products. Manufacturers must maintain a product approval process that includes identifying target markets, testing products for compatibility with customer needs, and monitoring distribution channels to prevent customer detriment. Insurance distributors are required to implement product distribution arrangements to ensure they understand the products they sell, obtain necessary information from manufacturers, and distribute products only to the identified target market. Both manufacturers and distributors must document their actions and make them available to competent authorities upon request.
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Source: European Insurance and Occupational Pensions Authority — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works
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