EIOPA publishes guidance on sustainability preferences
The European Insurance and Occupational Pension Authority (EIOPA) has published a guidance report on integrating customer’s sustainability preferences in the suitability assessment under the Insurance Distribution Directive (IDD). Guidance is provided on:
- how to help customers understand the concept of ‘sustainability preferences’.
- how to collect sustainability preferences from customers.
- how to match customer preferences with products based on SFDR disclosures.
- how to ensure the suitability of an insurance-based investment products.
- trainings and competence that can be expected of insurance intermediaries and undertakings.
The guidance is also complemented by a feedback statement based on the consultation EIOPA sent out on this topic earlier this year.