A EUROPEAN Union directive, regulating insurance mediators, such as brokers, has been approved by the EU Council of Ministers and will come into force as soon as procedural steps are taken.

The insurance mediation directive will allow brokers, banks and car dealers selling policies to trade across the EU by registering in their home Member State. However, it also lays down key standards that must be achieved by these agents to receive registration.

These include the possession of professional indemnity insurance, or any other ...

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