Close links between insurance intermediaries (agents) and other entities in the light of the act of 15 December 2017 on insurance distribution Cover Image

Bliskie powiązania między agentem ubezpieczeniowym a innymi podmiotami w świetle ustawy z dnia 15 grudnia 2017 r. o dystrybucji ubezpieczeń
Close links between insurance intermediaries (agents) and other entities in the light of the act of 15 December 2017 on insurance distribution

Author(s): Michał Romanowski, Piotr Haiduk, Wojciech Grabowski
Subject(s): Law, Constitution, Jurisprudence, Business Economy / Management
Published by: Polska Izba Ubezpieczeń
Keywords: insurance intermediaries; distribution; IDD; close links; KNF; holdings and branches

Summary/Abstract: According to the new Insurance Distribution Act which implements Directive (EU) 2016/97 on insurance distribution (IDD) insurance intermediaries that are not natural persons may perform agency activities only if the close links of such intermediaries do not prevent Polish Financial Supervision Authority to exercise effective supervision. In this context for insurance market in particular, for insurance intermediaries and entities that intend to run agency activities, it is crucial to understand the notion of “close links”. The article indicates the proposed interpretation of “close links” and presents it con- nection with capital groups (holdings) and branches established by insurers, i.e. entities commonly functioning in economic life.

  • Issue Year: 2018
  • Issue No: 2
  • Page Range: 3-14
  • Page Count: 12
  • Language: Polish