Continuing professional training
Continuing professional training under the Insurance Distribution Directive (IDD) and the IOBSP regulatory framework is the legal requirement obliging credit and insurance brokers to update their knowledge annually. For IOBSP intermediaries the volume is approximately 7 hours per year; for IDD-covered insurance distributors, approximately 15 hours.
Key points
- The IDD (transposed into French law in 2018) requires approximately 15 hours/year for insurance distributors, including at least 3 hours of professional ethics.
- IOBSP status requires approximately 7 hours of annual training for credential renewal.
- Training must be delivered by bodies registered with a recognized OPCO.
- Training certificates must be retained and produced in the event of an ACPR audit.
- Failure to comply may result in suspension of the professional accreditation.
Frequently asked questions
How many training hours must a broker complete each year?
It depends on the applicable regulatory status. A broker operating solely under IOBSP rules must log approximately 7 hours per year. A broker or agent distributing borrower insurance under the IDD is subject to approximately 15 annual hours, including a compulsory ethics component. If the professional practices both activities, the requirements are cumulative.
Why is continuing training overseen by the ACPR?
The ACPR (Prudential Supervision and Resolution Authority) is the regulator that oversees financial intermediaries in France. Continuing education ensures professionals stay current with legislative changes, new products, and market practices, thereby protecting consumers. The ACPR may request certificates during on-site or document-based inspections and may sanction non-compliance.
How should a broker choose a compliant training provider to log IDD hours?
The provider must be registered with an OPCO (Skills Operator) and issue individual certificates detailing the curriculum, duration, and competencies covered. Some brokerage networks offer pooled training plans. Brokers should verify that the topics covered match those required by the IDD (insurance products, regulation, professional ethics).
In practice
At year-end, an independent broker realizes they have only logged 4 of the 15 required IDD training hours. They urgently register for a certified online module on borrower-insurance regulation to make up the shortfall before December 31. They store the certificates in their management portal to produce them at the next ORIAS renewal.
Official sources
- Article L511-2 Insurance Code (continuing training) · Légifrance
- Article L519-1 of the Monetary and Financial Code · Légifrance
- Prudential supervision and resolution authority · ACPR (Banque de France)