Proposed new EU consumer-protection rules, which could affect up to €3.7 trillion of insurance funds, are the latest measure to stoke controversy in Brussels ̶ with a key European Parliament vote on the topic delayed from this month until September amid over 700 amendments by MEPs.

At the heart of the initiative is a proposal to require insurers, or indeed anyone selling retail financial products, to produce something called a Key Information Document, or KID, setting out all the need-to-know basics on things like fees and charges, in an easy-to-understand summary of not more than two pages.