The Insurance Distribution Directive (IDD) provides for a single European Passport for insurance intermediaries allowing them to operate freely throughout Europe on a freedom of establishment basis.
Once registered under the IDD, intermediaries are entitled to passport into other EU member states subject to completing the notification procedure and complying with the sales and marketing rules of the host state.
This freedom enables you to increase your customer base. On the other hand, the Irish market is now open to greater competition as other EU based intermediaries may target the Irish market.
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