On 5 March the Italian Supreme Court issued a new important judgment on unit-linked policies and their nature....more
IVASS published on 5 June Regulation no. 38 concerning provisions on the corporate governance system (the “Regulation“) implementing EIOPA Guidelines pursuant to Solvency II Directive....more
7/11/2018
/ Corporate Governance ,
EIOPA ,
Insurance Industry ,
Internal Controls ,
Italy ,
IVASS ,
Regulatory Oversight ,
Regulatory Requirements ,
Reinsurance ,
Risk Management ,
Solvency II
On 28 June Consob (the Italian supervisory authority on financial markets) launched a public consultation regarding amendments to its Regulation adopted with Resolution No. 11971 of 14 May 1999 (“Consob Regulation on...more
On 16 June Legislative Decree No. 68/2018 aimed at implementing the IDD (the “Legislative Decree“) was published on the Italian Official Journal.
...more
6/20/2018
/ Consumer Insurance Products ,
Cross-Selling ,
Insurance Code ,
Intermediaries ,
Italy ,
IVASS ,
Mediation ,
New Legislation ,
Regulatory Oversight ,
Regulatory Standards ,
Reinsurance ,
Remuneration
On 8 June IVASS launched three public consultations on its draft regulations providing for secondary level legislation regarding insurance and reinsurance distribution, pre-contractual transparency requirements to be met in...more
In a letter to the market published by IVASS yesterday, the Italian insurance regulator expressly clarified that the scope of application of the guidelines set out in a previous letter to the market also includes EU insurance...more
The Italian Insurance Regulator ("IVASS") and the Italian Competition Authority ("AGCM") have taken coordinated actions against certain clauses contained in health and accidents insurance policies that cover permanent...more
Postponement of IDD implementing provisions -
On 14 February the EU Council agreed the text of the proposed Directive to postpone the deadline for the transposition into Member States of Directive 2016/97 on insurance...more
2/20/2018
/ Consumer Financial Products ,
EU ,
EU Directive ,
Financial Instruments ,
Insurance Industry ,
Investment Opportunities ,
Italy ,
Life Insurance ,
Member State ,
MiFID II ,
Regulatory Oversight ,
Regulatory Standards
IVASS has just published a letter to the market addressed to Italian and EU insurance intermediaries and undertakings addressing the level of awareness of traditional intermediaries about the risks involved in the use of new...more
1/12/2018
/ Cyber Attacks ,
Cyber Insurance ,
Cybersecurity ,
Data Breach ,
EU ,
Insurance Industry ,
Intermediaries ,
Italy ,
Popular ,
Regulatory Oversight ,
Regulatory Standards
After one year from the last coordinated intervention of IVASS and the Bank of Italy in this sector aimed at better protecting policyholders/borrowers, IVASS issued a new letter to the market addressed to insurance...more