Under the Insurance Distribution Directive (IDD), how many hours of professional training must insurance staff complete each year?

Under the Insurance Distribution Directive (IDD), insurance staff are required to complete a minimum of 15 hours of professional training each year. This requirement is in place to ensure that insurance professionals maintain their competence and stay updated on industry changes, products, and regulations. The directive emphasizes the importance of continuous professional development as a means to enhance consumer protection and ensure high standards of conduct within the insurance sector. By mandating this training, the IDD aims to ensure that insurance distribution is conducted by knowledgeable and well-informed individuals.