Plea for Uniform Regulation and Challenges of Implementing the New Insurance Distribution Directive

Hofmann, Annette; Neumann, Julia; Pooser, David M.

doi:10.1057/s41288-018-0091-6

Cited by 10 publications

(4 citation statements)

References 24 publications

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“…Such transparency costs may arise, e.g., from preparing additional explanatory materials (such as key information documents), offering additional advice through brokers or service centers, or assessing whether the contract's terms and conditions can be simplified. New regulatory changes in the European Union make some of these measures mandatory (Hofmann et al (2018)).…”

Section: Overinsurancementioning

confidence: 99%

Financial Literacy and Precautionary Insurance

2019

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Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. Terms of use:Documents in EconStor may be saved and copied for your personal and scholarly purposes.You are not to copy documents for public or commercial purposes, to exhibit the documents publicly, to make them publicly available on the internet, or to distribute or otherwise use the documents in public.If the documents have been made available under an Open Content Licence (especially Creative Commons Licences), you may exercise further usage rights as specified in the indicated licence.

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Section: Overinsurancementioning

confidence: 99%

Financial Literacy and Precautionary Insurance

2019

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“…And Recital 98(1) GDPR [..] to facilitate the effective application of this Regulation, taking account of the specific characteristics of the processing carried out in certain sectors.' 91 Confirming conclusions reached byHofmann et al (2018) who concluded that: All in all, the new IDD will enhance the efficiency of European insurance markets. : 'and that: Through more uniform and consistent regulation, in conjunction with extended transparency requirements, it can ensure that consumers throughout the EU are equally well protected' p. 766.…”

mentioning

confidence: 72%

“…Arguing for the need for more information to be shared and proposing a new data protection right, the 'right to reasonable inferences' needed to enable adequate control for consumers over personal data; and Wachter and Mittelstadt (2018); On the other hand see Hofmann et al who warn that the expected increase in reporting and disclosure requirements might add to what is already excessive bureaucracy for insurers. Hofmann et al (2018) referring to GDV (2015).…”

Section: The Idd Contributes To Transparency In and About Insurancementioning

confidence: 99%

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Regulating Telematics Insurance

Boom

2020

AIDA Europe Research Series on Insurance Law and Regulation

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Abstract‘Telematics’ insurance is an example of data driven innovation in the insurance industry where data obtained from the vehicle (such as speed, time and location) is used to provide consumers with premiums based on their actual driving behavior. Despite the many benefits including more accurate risk assessments and premium setting, there are serious privacy concerns about the increased use of vehicle data for insurance purposes. The information requirements of the GDPR and the IDD could address some of these concerns in the context of telematics insurance. This research chapter concludes the analysis of the scope of these requirements by proposing the need for a broad interpretation for information to be made available in order to effectively help consumers make better, well informed decisions about insurance products and use of their personal data for insurance purposes.

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Considering the IDD Within the EU Legal Framework on ADR Systems

Montemaggiori¹

2020

AIDA Europe Research Series on Insurance Law and Regulation

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This chapter will analyse the role of IDD as the new EU legal framework for enforcing consumer ADR system in the insurance sector. After a brief examination of the main EU initiatives aimed at promoting the use of ADR for consumer’s disputes, it will consider the position of the IDD rules. Then, it will try to imagine the impact of the IDD framework on out-of-court redress for the insurance sector, with an overview of the main items that could be faced in the implementation of article 15 of the directive.

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Plea for Uniform Regulation and Challenges of Implementing the New Insurance Distribution Directive

Cited by 10 publications

References 24 publications

Financial Literacy and Precautionary Insurance

Financial Literacy and Precautionary Insurance

Regulating Telematics Insurance

Considering the IDD Within the EU Legal Framework on ADR Systems

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