EIOPA proposes draft IPID

EIOPA has submitted draft ITS under the IDD for the Insurance Product Information Document (IPID). Much like its various predecessors and counterparts in other products, the IPID is designed to provide concise, simple and comparable information about non-life insurance products so consumers can take an informed decision on their purchases. The IDD already mandates the information the IPID should contain, and EIOPA proposes it should be no longer than two A4 pages, three if absolutely necessary. The proposed IPID will have icons and boxes to separate different elements of key information.