During the First Reading of the bill of the Act of insurance distribution on 14th September all parties supported forwarding it to Parliament Commission for further development.
The bill was presented by a deputy minister in the Financial Ministry – Piotr Nowak. He indicated the aim of the new act is the IDD implementation. Poland has time to implement it until 23th February 2018.
Also, as he said, the bill will ensure undisturbed competition. The new act will increase consumer protection. According to Nowak, clients will be able to make a conscience decision about the insurance products which they need.
All parties of the Polish Parliament supported the bill and recommended forwarding the draft to the Public Finance Commission for further development.
Deputies who took part in debate about the draft praised the proposed regulations and indicated that the Polish insurance market needs new rules obtaining distribution. However they undertook that the draft adoption should follow with a social education campaign about finance.
