Cross selling practices in insurance products and the IMD2 Proposal


The paper deals with insurance cross-selling together with the banking or investment services regulated by the Draft Directive on insurance mediation 2002/92. Author particularly points out that the package products offered to consumers differ from the risks of their components. On consumer request, therefore, insurance intermediary or insurance company has the duty to provide adequate description of different package parts and the ways how their mutual relationship changes related risks towards consumer. Author concludes that combined product sale can be in the interest of the consumer under condition that the selling practices are in line with the Directive on unfair commercial practice. Such practice must not be aggressive, unfair or misleading.