The European Parliament has voted on various amendments to the draft Insurance Mediation Directive (IMD2) but did not vote on the underlying legislation as a whole. The IMD2 procedure file had indicated that the Parliament would vote either to accept or amend the text before the first Council reading. By voting on the amendments, Parliament has reaffirmed its position while leaving open the possibility of negotiating a first-reading agreement.

Trialogue discussion on IMD2 is not expected to resume before the elections for the new Parliament (due to take place in May 2014). The legislative timeline is now uncertain. Commissioner Barnier has indicated that there is still some way to go but expects agreement to be reached by the end of the year at the latest.

View Insurance: better information, advice and protection for clients, 26 February 2014