The Green Industry Act – Implications for Insurance Distributors in Luxembourg

The Green Industry Act – Implications for Insurance Distributors in Luxembourg

Under the Green Industry Act, Luxembourg-based insurance distributors advising clients who are French residents must comply with strengthened requirements. These include integrating ESG preferences into advice, ensuring greater traceability, maintaining ongoing client monitoring, and offering products carrying the ‘Green Industry’ label. The Act also extends to non-life insurance, complements the SFDR framework, and exposes distributors to significant penalties in the event of non-compliance.”