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Best practices in insurance mediation

04.02.2008

On 1 February 2008, insurance mediation guidelines adopted by the Estonian FSA entered into force. The guidelines regulate how Estonian insurance intermediaries should establish their clients' insurable interest and clarify the rules transposing Directive 2002/92/EC, including rules on avoidance of conflicts of interests and provision of advisory services by insurance brokers. Intermediaries may deviate from certain provisions but should justify the deviation ("comply or explain"). The guidelines make it advisable to review internet and telephone sales procedures of intermediaries acting in Estonia.

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