Sanctions - ISVAP
In 2008, ISVAP economic sanctions achieved their historical record. Last year, indeed, the Authority inflicted sanctions to insurance companies and intermediaries for an overall amount of Euro 39,6 millions, with an increase equal to Euro 6,6 millions against the aggregate amount of Euro 32,9 millions of monetary sanctions inflicted in 2007 (this represents a 20% increase).
The 2008 report states that the majority of the sanctioning proceedings are caused contracts (92,4%) and, within this category by infringements of the rules related to car insurance, to delays payment.
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