According to the Insurance Distribution Directive, what is the minimum annual training requirement for brokers?

The minimum annual training requirement for brokers, as outlined in the Insurance Distribution Directive, is indeed 15 hours. This requirement is designed to ensure that brokers maintain a high level of competence and are up-to-date with industry standards, regulations, and best practices. The training can cover various topics, including product knowledge, regulatory compliance, and market developments, all of which are crucial for brokers to effectively serve their clients and uphold the integrity of the insurance market.

This structured learning helps to enhance the professionalism and skills of brokers, ultimately benefiting consumers by ensuring they receive informed advice and services. By mandating this minimum training, the directive aims to improve consumer protection and foster trust in the insurance distribution channel. The requirement is part of a broader effort to ensure that all participants in the insurance market meet certain professional standards, which is essential in an industry that often deals with complex and significant financial commitments.