While unit-linked products can and often do offer important benefits for policyholders, costs for some unit-linked products continue to remain too high. Existing concerns have been heightened by the COVID-19 crisis.
The low interest rate environment coupled to market shocks and the risk that households will need increased access to liquidity, underline how important it is that unit-linked products always offer value to consumers.
EIOPA considers that reliably putting consumer outcomes at the heart of product design, distribution and monitoring processes is critical for tackling value for money issues, and that a European approach is needed to support the development of a stronger Capital Markets Union. Hence it developed a framework – now issued for public consultation – whereby it presents how insurance products manufacturers can ensure their products are adequately tested to assess whether they bring value for money.
During this event, we will present the content and context of the consultation and engage a dialogue with participants.