General insurance intermediary Berkeley Alexander has a clear message for all brokers: Be aware of what the new Insurance Distribution Directive (IDD) will bring.
“While October still might seem a while away, the IDD will actually affect any polices you touch before then that incept or renew from the October 01 deadline,” stressed Berkeley Alexander chair Geoff Hall. “For example, renewal invitations on policies from October 01 should be invited a minimum of 21 days ahead, so renewals invited from early September will be impacted, as will quotes you are providing now on cases you know will complete in October.”
You've reached your limit - Register for free now for unlimited access
To read the full story, and get unlimited access to Insurance Business website content, just register for free now. GET STARTED HERE
Already a website member? Log in below.