The Lloyd’s Market Association (LMA) has published guidance on the IDD for UK coverholders.
The guidance covers some aspects of IDD, including:
- product oversight and governance;
- product information (including the IPID);
- identifying client needs and advising; and
- information requirements.
While certain part of the guidance are specific to the Lloyd’s market, the LMA has discussed the IPID requirements with the FCA and a list of Q&As is provided in appendix 6.