The Latest News On Insurance Laws in Italy

In this issue:

  1. Professional Liability Insurance Policies
    2.
  2. Financial-Insurance Products
    3.
  3. The Settlement and Arbitration Board of CONSOB
    4.
  4. ISVAP Regulation no.5/06
    5.
  5. ISVAP Regulation on Transparency
    6.
  6. Sanctions - ISVAP
    7.

 

Milan
Via S.Andrea, 3
20121 Milan/Milano
tel: +39 02 76013359
fax: +39 02 76027478
Email: info@pglegal.it

Contacts
Gianfranco Puopolo
Email:g.puopolo@pglegal.it


Rome
Via Lisbona, 11
00198 Rome/Roma
tel: +39 06 884 1535
fax: +39 06 884 2049
Email: info@pglegal.it

Contacts
Angelika Lentsch
Email:lentsch@pglegal.it


Naples
Via Pietro Giannone,30
80100 Naples, Napoli
tel: +39 081 599 2112
fax: +39 081 566 4420
Email: info@pglegal.it

Contacts
Gianfranco Puopolo
Email:g.puopolo@pglegal.it

 

Financial-Insurance Products

Commencing from March 2009, Consob inaugurated S.A.I.V.I.A. (the name is the acronym for Sistema Automatico Integrato Vigilanza sulle Assicurazioni).  S.A.I.V.I.A. is the Internet procedure that will replace the filing of hard copy documents for the offering of financial-insurance products and enable intermediaries to file soft copies instead. 

Pursuant to article 28-quater of the Issuers' Regulation (Regolamento Emittenti enacted by Resolution no. 11971 14 May 1999), insurance companies that intend to issue financial-insurance  products in Italy are under the obligation to inform and provide Consob with a copy of the related documentation upon the beginning of the offering.  


The documentation must be prepared in accordance with the form available on Consob's website in compliance with the relevant drafting instructions. Any filing procedure different from the aforementioned one shall be deemed non-compliant with the applicable provisions of law.



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