In the context of periodic reporting to customers, is the insurance intermediary also expected to develop and provide ‘adequate reports on the service provided’? Is the insurance intermediary primarily responsible for reporting to customers on costs & charges and providing periodic reports to customers, with the insurance undertaking always responsible for delivering information on the product, as required under the Solvency II Directive?
With regard to the obligations to provide appropriate reporting under Articles 29(1) and 30(5), IDD and Article 18 of Delegated Regulation 2017/2359, it will depend upon who is providing the service. This may generally be expected to be an insurance intermediary, except where the insurance undertaking is providing services when distributing directly. The insurance undertaking will be responsible for delivering information required by Article 185 of Directive 2009/138/EC (Solvency II).