The conference about Polish insurance institutions’ comments on the draft act on insurance distribution was held in the Ministry of Finance on 19 January 2017.
The Office of Competition and Consumer Protection (UOKiK) slowly backed out of a proposition to ban paying provisions to distributors. As they said during the conference, the proposition only had a legal character due to a similar idea included in the draft act on mortgage loans and supervision over mortgage loan brokers and agents. The UOKiK’s reps said that if their proposition was not accepted, the institution would support KNF’s solution of non-disclosure agent’s provisions. According to the UOKiK, this will improve clients’ situations, because they will be able to verify that a product meets their needs regardless of the distributor’s salary.
