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Catherine Calleja, newly-elected president of the Malta Insurance Association, tells Anthony Manduca that the industry would like closer collaboration with the government on a number of issues.
Two major pieces of legislation affecting the insurance industry come into force next year and insurance companies are still awaiting feedback on their proposals as well as guidelines from the EU vis-à-vis these laws.
“Due to our EU membership there are a number of laws coming into force in 2018, the two major ones being the Insurance Distribution Directive (IDD), to be transposed in February 2018, and the General Data Protection Regulations (GDPR), which will be fully enforceable in May 2018.
“There are other aspects of local legislation or proposed legislation which also greatly affect our industry. We have been awaiting feedback on our proposals regarding some of these laws for some time,” Catherine Calleja, president of the Malta Insurance Association, says.
The IDD legislation will enable the issuing of a Conduct Book for the industry which will transpose the conduct of business provisions....
As reported on the Sunday Times Sunday, September 17, 2017, by Anthony Manduca.
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