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The Notion of Insurance-Based Investment Products

A Cross-Sectoral Legal Approach in Europe
  • Ioannis RokasEmail author
  • Athina Siafarika
Chapter

Abstract

This article aims to offer an overview of insurance-based investment products, as they appeared in practice and subsequently regulated by the national and European legislators. It further aspires to provide guidance on the specific elements and risks inherent to such products from a European legal point of view, which distinguish them from other traditional insurance and investment products. Practical examples are also included in this article, which are, though, merely indicative of the forms that insurance-based investment products can take.

Abbreviations

AIFMD

Alternative Investment Fund Managers Directive

AIFs

Alternative Investment Funds

CEIOPS

Committee of European Insurance and Occupational Pensions Supervisors (now EIOPA)

CFD

Contract for Difference

COBS

Conduct of Business rules

DG

Directorate-General

EBA

European Banking Authority

EC

European Commission

ECB

European Central Bank

EIOPA

European Insurance and Occupational Pensions Authority

EMIR

European Market Infrastructure Regulation

EOS

Environmental and Social Objectives

ESAs

European Supervisory Authorities

ESFS

European System of Financial Supervision

ESMA

European Securities and Markets Authorities

FCA

Financial Conduct Authority

FTSE 100

Financial Times Stock Exchange 100 Index

IDD

Insurance Distribution Directive

IMD

Insurance Mediation Directive

KID

Key Information Document

KII

Key Investor Information

MiFID

Markets in Financial Instruments Directive

MiFIR

Markets in Financial Instruments Regulation

OTC

Over-the-Counter

PRIIPs

Packaged Retail and Insurance-Based Investment Products

PRIPs

Packaged Retail Investment Products

SPV

Special Purpose Vehicle

UCITS

Undertakings for the Collective Investment of Transferable Securities

References

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Copyright information

© Springer Nature Switzerland AG 2019

Authors and Affiliations

  1. 1.Department of Business AdministrationAthens University of Economics and BusinessAthensGreece
  2. 2.Rokas International Law FirmAthensGreece
  3. 3.AthensGreece

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