Lloyd’s gives IDD guidance to non-UK coverholders

Lloyd’s has published guidance for non-UK EEA coverholders on the actions they must take to ensure IDD compliance. The guidance focuses on agreement between all parties in the distribution chain on who the product manufacturer is, and the need to document this in the binding authority agreement.  Coverholders that are manufacturers should prepare appropriate IPIDs, and all coverholders should work on appropriate product oversight and governance frameworks.