IVASS has recently published a letter to the market clarifying obligations for insurance undertakings and intermediaries under Council Regulation (EU) No. 269/2014 concerning restrictive measures related to Ukraine's...more
IVASS has recently issued a regulatory measure amending and integrating its secondary rules on anti-money laundering (AML) compliance and governance aimed at preventing the use of insurance companies and insurance...more
On 28 March 2024, IVASS launched a second public consultation on a draft regulation regarding unit and linked insurance products. The purpose of the draft regulation is to lay down the rules aimed at updating, in line with...more
The Italian Budget Law for 2024 introduced important measures that will have an impact on the insurance business. As to the non-life insurance sector, it is provided an obligation for Italian enterprises and branches of...more
IVASS has recently launched a public consultation on a draft regulation providing amendments and integrations to its existing regulations on insurance and reinsurance distribution and on information, advertising and designing...more
In two recent official events the chairman of IVASS, the Italian insurance supervisory authority, has identified the main lines of future regulatory actions deemed necessary to address the current regulatory deficiencies and...more
The Bank of Italy, COVIP, IVASS and the Italian Ministry of Economy and Finance have jointly launched a public consultation on draft instructions for the exercise of enhanced controls on the business of a wide range of...more
IVASS has recently launched a public consultation on a document providing amendments to its Regulation no. 40/2018 in order to enable the registration of insurance intermediaries on the web portal of the Register of insurance...more
IVASS has recently launched a public consultation on a document providing amendments and integrations to some of its secondary regulations, in order to align them to the new European rules on sustainable finance. The IVASS...more
The Italian annual market and competition law - recently published in the Italian official Gazette - provides, among other things, for an amendment in relation to the rules on direct compensation system for motor liability...more
IVASS has launched a public consultation in order to amend certain provisions of IVASS Regulation No. 40/2018 on insurance and reinsurance distribution, in particular regarding professional requirements of insurance...more
IVASS has launched a survey aimed at understanding the use of Machine Learning algorithms by Italian insurance undertakings and Italian branches of non-EU insurance undertakings, which are required to fill in a specific...more
IVASS has launched a public consultation on a draft regulation laying down provisions on the setting up of an online comparison system for premiums related to the so-called basic contract offered by insurance undertakings...more
IVASS has launched a public consultation on a draft regulation laying down provisions on the use of external experts for the purposes of mystery shopping activities, i.e. the activity carried out incognito by or on assignment...more
On 11 March 2022, IVASS launched a public consultation on a draft regulation which would introduce new provisions governing unit-linked and index-linked policies issued by Italian and foreign insurance undertakings. On the...more
IVASS has published its letter to the market of 4 March 2022 on the timing and operational modalities for the communication of information related to supervisory reporting. The Letter to the Market, together with the related...more
On 28 January 2022, IVASS launched a public consultation on a draft regulation providing rules related to the obligation to communicate to IVASS data and information on non-life premiums collected in Italy by insurance...more
On 23 December 2021 IVASS published a set of clarifications regarding a number of Italian provisions governing the insurance distribution activity. Following a series of meetings held between the Italian insurance...more
On 19 May 2021, the new Italian class action bill has finally entered into force. The new legislation has been designed to facilitate and incentivize the use of class actions, so that a significant increase in collective...more
On 14 July 2021, IVASS published a new Regulation setting out rules on money laundering risk mitigation procedures and providing for amendments to IVASS Regulation No. 44/2019 regarding rules on internal organization,...more
On 23 March, IVASS, in the run-up to the entry into force of its Regulation No. 45/2020 on insurance products oversight and governance requirements (“POG”) and Measure No. 97/2020 mainly providing amendments to the current...more
On 31 December 2020, Law Decree No. 183 of 31 December 2020 introducing, among others, specific provisions addressed to UK insurance undertakings in relation to their business and obligations following the end of the...more
IVASS published a public consultation in order to amend its Regulation no. 14 of 18 February 2008 ruling - among others - the authorization procedure applicable to insurance portfolio transfers....more
Following three public consultations launched on 23 September 2019, IVASS and CONSOB completed the implementation in Italy of (EU) Directive 2016/97 on insurance distribution ("IDD"), by publishing IVASS Measure No. 97/2020,...more
On 18 June 2020, the Italian Insurance Regulator (IVASS) published its annual report on the supervisory activity carried out in 2019. The Chairman of IVASS Mr. Daniele Franco in his considerations introducing the report...more