On 28 December 2017 the President of the Republic of Poland signed the Act of 15 December 2017 on insurance distribution. The legal act was published in the Journal of Laws under the position 2486. The Act enters into force on 23 February 2018.
On 20 December 2017, the European Commission proposed to push back the application date of the insurance distribution directive (IDD) by seven months to 1 October 2018. EU countries are still required to transpose IDD into national law by the original date, 23 February 2018. In order to align the application dates, the Commission is also preparing to postpone the application of two delegated regulations adopted under the IDD. The European Parliament and the Council will need to agree on the new application date in an accelerated legislative procedure.
The beinsured editorial staff has asked the Financial Ministry for commentary about the possible change of the date of the IDD application. The Ministry replied:
“On 20 December 2017 the European Commission applied to the European Parliament and the Council of Europe for postponement of the application date of the Directive (EU) 2016/97 to 1 October 2018. The term of the implementation of this act which was set for 23 February 2018, remains valid. The Financial Ministry prepared a draft of the government position in this issue. The draft was submitted to reconciliation and consultation. The possible change of the application date of the Act of 15 December 2017 on insurance distribution requires the passing of a new directive postponing the application date of the Directive (EU) 2016/97 in the time period necessary to make appropriate amendments to legal regulations in EU countries which had implemented IDD regulations”.
