On 23 June 2023 the International Association of Insurance Supervisors (IAIS) launched the fourth and final public consultation on the Insurance Capital Standard (ICS), prior to its planned adoption in December 2024. After decades of development and three consultations, the ICS should be adopted as a prescribed capital requirement (PCR) for Internationally Active Insurance Groups […]
On 4 July 2023, the European Commission presented a proposal for a regulation aimed at establishing new procedural rules to facilitate the application of Regulation (EU) 2016/679 (GDPR) on the protection of personal data in cross-border cases, i.e. in cases where the affected individuals are located in more than one Member State, with the consequent […]
On 26 June 2023 at the most recent workshop organised by IVASS, the Authority presented the results of the survey on the simplification and clarity of insurance contracts. The clarity and simplification of policy wording is not a new issue for IVASS. In fact, Ivass: has already addressed this aspect in 2018, publishing the “Simple […]
On the 14th of June 2023, the European Parliament approved the proposal for a Regulation on Artificial Intelligence – “Artificial Intelligence Act” (hereinafter also only the “AI Act” or the “Regulation”), first proposed on 21.04.2021 by the European Commission . The Regulation in question aims to ensure that the use and development of AI takes […]
The European Securities and Markets Authority (ESMA), – by means of a Call for Evidence (CfE) has invited companies subject to Directive 2014/65/EU – i.e. investment firms and credit institutions providing investment advice, Fund management companies (UCITS) and external alternative investment fund managers (AIFMs) – to submit inputs on the integration of sustainability preferences into […]
In recent years, EU Institutions have been asking large companies operating in the EU to assume an increasingly responsible attitude towards the protection of human rights and the environment. In this regard, on June 1, 2023, the European Parliament adopted the amendments to the Corporate Sustainability Due Diligence (CSDD) Regulation and amending Directive. This Directive […]
With judgment no. 2193 of 24 January 2023, the Supreme Court’s Legitimacy Judges revisited the subject of how to successfully complete Certified Electronic Post (PEC) transfers in the event that the recipient’s mailbox is full. This issue concerning PEC has been the subject of attention on several occasions by the Supreme Court of Cassation, which […]
On 14 June 2023, IVASS published Consultation Paper No. 4/2023 (hereinafter also referred to as the “Paper”), which sets out the proposed amendments and additions that the Institute intends to make to IVASS Regulation No. 44/2019 (hereinafter also referred to as the “Regulation”) in order to bring it fully into line with the EBA (European […]
On 6 June 2023, IVASS published Order no. 132/2023 with amendments and additions to Regulation no. 18/2016 which governs the application rules for determining technical provisions. With this Order , IVASS incorporates the Guidelines formulated by the European Insurance and Occupation Pensions Authority (EIOPA) thereby harmonizing the criteria and methods for forming technical provisions with […]
We are pleased to announce that PG Legal has officially become a member of ILG Insurance Law Global, a prestigious international network of leading insurance law firms. This strategic partnership reinforces our commitment to providing exemplary legal services in the insurance sector. For more information, please see the official press release on the ILG website: https://www.insurancelawglobal.com/news-views/articles/insurance-law-global-grows-network-to-11-members-with-the-additions-of-argentinian-italian-and-french-law-firms/
