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Following the entry into force of the amendments to Delegated Regulation (EU) 2017/2359 on information requirements and conduct of business rules for the distribution of insurance-based investment products (IBIPs) on 2th August 2022, EIOPA published a guidance to help insurance distributors providing advice on IBIPs to integrate the new requirements on customer’s sustainability preferences in the suitability test required under IDD. Under Belgian law, this guidance applies more generally to all savings and investment products (except for second-pillar pension products).
The guidance addresses the integration of customer sustainability preferences by contextualising these in the different stages of the operational scheme of insurance distribution.
Based on this new guidance, our team has developed a roadmap with 6 key actions to ensure that the operational framework, and more specifically the suitability test, are in line with the regulatory requirements for sustainability preferences.
Discover our FSO Legal & Regulatory update on ESG impact here: