Sanctions imposed on European insurance operators

The European Insurance and Occupational Pensions Authority (EIOPA) has published its 2020 report on administrative sanctions and other measures imposed by the competent national authorities on insurance operators.

In 2020, European regulators imposed 1 942 sanctions in 17 Member States for a total amount of 793 571 EUR (898 814 USD). The main cause of these measures is the failure to comply with article 10 of the Insurance Distribution Directive (IDD).