Insurance Sector - Framework Overview

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 behavioursand 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

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.