Insurance Sector - Framework Overview

You will gain a broad understanding of the insurance sector within the EU and Luxembourg, with the aim of giving you a high-level overview of the duties and responsibilities of an insurance agent.

At the end of this training, the participants will have a holistic knowledge of the insurance sector, including the main stakeholders and the applicable regulatory frameworks. The course shall provide a detailed information about the rules governing insurance business, the tasks, and obligations of insurance agents as well as the behaviours and conduct towards customers:

• Understand the organisation of the distribution of insurance products

• Identify the role of insurance intermediaries

• Know the conditions of access, exercise and control that prevail in insurance intermediation

• Understand the requirements stemming from the insurance distribution directive and any other relevant regulatory requirements

• Insurance sector

• • Overview of the sector

  • Insurance companies

  • Insurance agreement (premium, risks, service)

  • Insurance products  

• Insurance distribution

• • Regulatory framework

  • Conditions to carry-out the intermediation activities

  • Intermediaries’ liabilities

  • Freedom to provide services and freedom of establishment

  • Regulated distribution channels

• Customer relationship

• • Regulatory framework

  • MiFID II and PRIIPS

  • Information to clients

  • Advised, non-advised sales, cross selling

  • Conflicts of interest management and inducements

• Financial crime and Sanctions

• • Fight against financial crime

  • Role of the intermediary: Customer Due Diligence

  • Screening: PEP, Sanctions and Adverse information

  • Complying with the sanction regime

• Professional secrecy and data protection

• Professional secrecy

• GDPR