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Amendment to the Financial Services (Insurance Distribution) Regulations 2020

22 Jun 20

Please note an amendment was made to the Financial Services (Insurance Distribution) Regulations 2020 on 11th June 2020.

This amendment includes changes to the minimum capital requirements and Professional Indemnity Insurance for Insurance and Reinsurance Intermediaries. The capital requirements have increased from €18,750 to €19,510, and the Professional Indemnity Insurance from €1,250,000 to €1,300,380 (or sterling equivalent) applying to each claim (and in aggregate €1,850,000 to €1,924,560 (or sterling equivalent) per year for all claims).