EIOPA issues Guidelines on Complaints-Handling by Insurance Intermediaries

EIOPA has published a set of Guidelines on Complaints-Handling by Insurance Intermediaries. The Guidelines are addressed to the national competent authority in each Member State which is responsible for supervising complaints between insurance intermediaries and policyholders.

The Guidelines are a follow-up to EIOPA’s Guidelines on Complaints-Handling by Insurers issued last year, thereby ensuring a complete framework of protection for policyholders.

The existing Insurance Mediation Directive provides that there must be effective complaint and redress procedures in each Member State in order to resolve disagreements between insurance intermediaries and policyholders. In this regard, the Guidelines set out high level principles on appropriate internal systems and control for complaints-handling, the provision of information and procedures for dealing with complaints.

National Competent Authorities are required to incorporate the Guidelines into their regulatory or supervisory framework on a ‘comply or explain’ basis within two months. The Guidelines are complemented by a Report containing a list of best practices for insurance intermediaries in handling complaints.