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European Council backs delay in implementation of insurance distribution laws

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The European Council has backed a proposal to delay the introduction of new laws on the distribution of insurance products until Oct. 1, Out-Law.com reported. The Insurance Distribution Directive requires each European Union member state to implement its rules into national law by Feb. 23. The IDD, once in force, will revise and update the EU's framework for regulating insurance brokers, agents and other intermediaries.

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