Introduction
The Insurance Mediation Directive (IMD) introduced a set of requirements for the regulation of EU insurance intermediaries, to permit them to operate in other Member States, on an establishment or freedom of services basis. EU insurance intermediaries must be registered by a competent authority in their home state.
Key issues
EU intermediaries must inform the competent authority of their home Member State of their intention to transact cross-border trading in other Member States, the home authority informs the host authority. The IMD allows Lloyd’s brokers to carry on services and establishment business in and from other EU Member States and Lloyd’s coverholders to transact cross-border business.
Implementation
The directive was due to be implemented by Member States by 15 January 2005.
All 27 Member States have implemented the IMD.
Further information
Copy of the Insurance Mediation Directive can be found
