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dc.contributor.authorMarano, Pierpaolo-
dc.identifier.citationMarano, P. (2021). Management of Distribution Risks and Digital Transformation of Insurance Distribution—A Regulatory Gap in the IDD. Risks, 9(8), 143.en_GB
dc.description.abstractThe Insurance Distribution Directive (IDD) aims to regulate insurance distribution in the EU regardless of distribution channels and means. Although new technologies affect insurance distribution, the IDD does not explicitly regulate this digital transformation. Insurers and intermediaries must comply with detailed business conduct rules that aim to counteract distribution risks. However, the IDD exempts ancillary insurance intermediaries from its scope when they meet certain conditions. The article highlights the regulatory framework on insurance, requiring insurers and intermediaries to address distribution risks, and analyses how this exemption affects the management of distribution risks in online distribution from a legal perspective. The focus on online distribution depends on the scale such distribution can achieve. The consideration of the scale allows for challenging the political choice behind the exemption of ancillary insurance intermediaries, which consists of the principle of proportionality. A regulatory proposal to counteract these adverse effects is to remove the exemption from the IDD rules for ancillary intermediaries in online distribution. Such a proposal is compliant with the principle of technological neutrality and is in line with the new legislative proposals in the Digital Services Act and Digital Markets Act.en_GB
dc.publisherMDPI AGen_GB
dc.subjectInsurance -- Financeen_GB
dc.subjectFinance -- Technological innovationsen_GB
dc.subjectInsurance -- Risk managementen_GB
dc.subjectInsurance law -- European Union countriesen_GB
dc.subjectInsurance policies -- European Union countriesen_GB
dc.subjectLaw -- Europeen_GB
dc.titleManagement of distribution risks and digital transformation of insurance distribution - a regulatory gap in the IDDen_GB
dc.rights.holderThe copyright of this work belongs to the author(s)/publisher. The rights of this work are as defined by the appropriate Copyright Legislation or as modified by any successive legislation. Users may access this work and can make use of the information contained in accordance with the Copyright Legislation provided that the author must be properly acknowledged. Further distribution or reproduction in any format is prohibited without the prior permission of the copyright holder.en_GB
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