EU insurers call for repeal of online marketing regulation


By Lucia Osborne-Crowley (Oct 4, 2021, 2:09 p.m. BST) – The insurance industry on Monday urged EU policymakers to repeal the bloc’s online marketing regulation, saying new product-specific legislation has weighed down regulatory burden.

Insurance Europe said the European Commission should reform its Directive on the Distance Marketing of Financial Services to Consumers, or DMD – a scheme designed to protect people purchasing products such as insurance policies online.

The industry trade group said distance marketing rules, as they apply to insurers, have been made obsolete by more recent product-specific legislation. This includes the Insurance Distribution Directive, which regulates how insurance products are sold in the block ….

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