2011-10-07
The provisions regarding information about insurance and occupational pensions have been gathered in a single regulation — FFFS 2011:39 Regulations and general guidelines regarding information about insurance and occupational pensions — rather than in two separate regulations.
The most important amendments to the new regulation are the general guidelines for key investor information documents relating to savings-type life insurance products. The key investor information document should contain information about the insurance undertaking's financial strength and relevant historical returns for the product the undertaking is offering. Disclosure of fee information in the key investor information document is another important point of the general guidelines.
The basis for the provisions of this regulation is the EU Directive on life and non-life insurance and the EU Directive on institutions for occupational retirement provision. Since these regulations and general guidelines are an important part of the Swedish regulatory framework for consumer protection, they shall also be applied by foreign insurance undertakings during communication with Swedish consumers.
The reglations repeal FFFS 2011:35 regarding information about life insurance and occupational pensions and FFFS 2011:36 regarding information relating to non-life insurance.
