New rules on complaints handling on way from Europe

The European Insurance and Occupational Pensions Authority (Eiopa) has launched a public consultation on complaints handling by insurance brokers and other intermediaries.

The consultation will cover guidelines set out by Eiopa that provide “guidance on appropriate internal systems and control for complaints handling, the provision of information and procedures for responding to complaints”.

The guidelines are sent to national competent authorities (NCAs), which then incorporate them into regulations for the countries they cover.

Eiopa said: “By setting down high-level principles regarding the arrangements under which insurance intermediaries handle complaints, the guidelines would thereby establish a minimum level of supervisory convergence. This, in turn, would lead to benefits in terms of creating a level playing field for insurance intermediaries across the EU and ensuring fair treatment of complainants by insurance intermediaries.”

The move follows a similar set of guidelines for how insurers handle complaints and it is hoped the new guidelines will form a “complete circle of protection for consumers”.