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Germany, Italy and Austria face infringement procedure over insurance products distribution

( October 3, 2024, 10:55 GMT | Official Statement) -- MLex Summary: Germany, Italy and Austria must correctly transpose EU rules on the distribution of insurance products set out in the Insurance Distribution Directive, the European Commission said today. Shortcomings of Austria and Germany relate to provisions on insurance intermediaries controlled by persons from third countries. Germany's alleged infringements are related to the selling of insurance products as an add-on by ancillary insurance intermediaries and on the publication of sanctions. In the case of Italy, the alleged infringement concerns rules on cross-border activities by insurance intermediaries. Countries have now two months to fulfil their duties, otherwise they could receive a final warning from the commission. Statement follows. ...

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