With ruling no. 18518/2024 of July 8, 2024, the Italian Supreme Court of Cassation formulated and reaffirmed the following important legal principle regarding the liability of Public Entities under Article 2051 of the Civil Code: “In matters of liability pursuant to Article 2051 of the Civil Code, the injured party bears the burden of proving […]
On July 2, the European Insurance and Occupational Pensions Authority (EIOPA), in accordance with Article 29, paragraph 1, letter a) of Regulation (EU) 1094/2010, published an opinion on captive insurers con its website, with particular attention to intragroup operations and the application of the “prudent person principle”. The document is addressed to the competent supervisory […]
On July 1, the European Banking Authority (EBA) published an opinion addressed to Consob, in response to Consob’s notification regarding the decision to grant authorization pursuant to Article 26-sexies, para. 10, of the Regulation (EU) 2017/2402 on securisations. Specifically, the authorization aims to use high-quality guarantees for securitizations in balance sheets, in the form of […]
On June 13th, the hearing of the IVASS representatives took place at the “Parliamentary Oversight Committee on the activities of the managing bodies of compulsory social security and welfare schemes” as part of a fact-finding survey on the balance and results of the management of the expanded pension sector, with particular regard to demographic transition, […]
According to information circulating in the Italian press the Industry Committee of the Italian Senate has just concluded its votes on the amendments to the Agriculture Decree, opening a gap with respect to the possibility of installing ground-mounted photovoltaic plants, which was restricted by the same. An amendment was approved for plants that have already […]
On June 25th, the “Round Table on sustainable finance” – promoted by the Italian Ministry of Economy and Finance and composed of the Ministry of Environment and Energy Security, the Ministry of Enterprises and Made in Italy, the Bank of Italy, the National Commission for Companies and the Stock Exchange (CONSOB), the Institute for Insurance […]
On June 19th, the Institute for Insurance Supervision (IVASS) published the results of a market survey on policies covering catastrophic risks available on the Italian market. The survey arises in compliance with the obligation introduced by the 2024 Budget Law, which requires companies to take out insurance coverage against catastrophic risks within December 31, 2024. […]
With order no. 16745 of 15 June 2024, the Italian Court of Cassation clarified the responsibilities of the construction manager. According to the Court, the construction manager is obliged to ensure that the works are executed in accordance with the project and comply with building regulations. However, this does not imply that the construction manager […]
On June 25, 2024, Commission Delegated Regulation (EU) 2024/1772 of March 13, 2024, was published in the Official Journal of the European Union, supplementing Regulation (EU) 2022/2554 (the “DORA” Regulation). In accordance with the objective of the DORA Regulation, which aims to harmonize and streamline reporting obligations related to information and communication technology (ICT) incidents, […]
With Provision 147/2024 dated June 20, 2024, IVASS has introduced significant amendments to: Regulation 40/2018, laying down provisions on insurance and reinsurance distribution; Regulation 41/2018, on transparency, disclosure, and design of insurance products. IVASS acknowledged that the current provisions on distribution and pre-contractual disclosure have increased significantly the costs for operators to provide the information […]
