On October 19th in Rome, Confindustria and Assicurazioni Generali (with the participation of the National Cyberseurity Agency) presented the first “Cyber Index PMI Report”, which is an index aimed at measuring the awareness of cyber risks among small and medium sized enterprises. The report is based on questionnaires completed by 708 small and medium sized enterprises […]
On October 6th, the European Insurance and Occupational Pensions Authority (EIOPA) published an opinion on the supervision of captive reinsurance companies in the public consultation procedure. The opinion drafted based on Article 29 of EU Regulation No. 1094/2010, that mandates the European Authority to play an active role in establishing a common supervisory culture within […]
In an article published on its website on October 6th, the European Insurance and Occupational Pensions Authority outlined its roadmap for the next two years. The roadmap defines the Authority’s strategic priorities, that aim at managing potential uncertainties, ensuring that the insurance and pension sectors can continue to provide value to policyholders and beneficiaries, and […]
What is the applicable EU legislation? With reference to EU law, on April 20, 2023, the European Parliament has approved the final text of the Markets in Crypto-assets Regulation (MiCA) legislation, which will enter into force between 2024 and 2025 and it will apply directly across the EU without any need for national implementation laws. […]
What is this policy about? It appears to be in line with the European sustainable development goals, which come to life from the decisions taken by, among others, Cop 26. As a matter of fact, the intention of achieving a significant reduction in carbon dioxide emissions within a very short timeframe, which,combined with a progressive […]
Nothing stops the Italian Data Protection Authority from its battle against unlawful telemarketing, this time imposing fines of €40,000 against Comparafacile and €100,000 against Tiscali. Comparafacile Following a report filed by a citizen, the Authority found that the online price comparison company had acquired personal data from certain individuals through a foreign company, subsequently contacting […]
With the publication of Ministerial Decree No. 236 on October 9, the Beneficial Ownership Register became operational. All companies having their office in Italy are obliged to notify the data and information regarding the beneficial ownership to the competent Italian Chamber of Commerce (Camera di Commerico), that will register and store the data in a […]
On October 6 IVASS has published -for public consultation- the draft of a letter to the market (the “Letter”), wherein the Italian surveillance authority clarifies its expectations regarding the implementation of the Product Oversight and Governance (POG) for insurance products. With the Letter IVASS intends to promote a more uniform and correct implementation of the […]
Introduction It has come to our attention that the Italian Revenue Agency (Agenzia delle Entrate, ‘AE’) is conducting investigations into the VAT charged on charter fees by certain charter/yacht owning entities in relation to charter contracts signed before 1 November 2020. In these cases, the AE contested the use of flat-rate reduction of the VAT […]
On September 20th, the draft of the legislative decree implementing the Directive (EU) 2021/2118 on motor vehicle liability insurance and the control of the obligation to take out insurance to cover such liability has been published. Special attention has been paid to the proposed wording for the new Article 122-bis of the Italian Private Insurance […]
