On March 15, 2024, the European Parliament and the Council of the European Union announced that they reached an agreement on the text of the new Regulation on the European Health Data Space (EHDS). The EHDS aims to ensure improvements in access to and control over individuals’ electronic health data, thus allowing individuals to access […]
On March 13, 2024, the European Parliament approved the AI Act (Artificial Intelligence Act, “Regulation“), the first general law on Artificial Intelligence. The body of the Regulation consists of more than 450 pages, 180 recitals, 113 articles and 13 annexes. The Regulation aims at regulating the development, provision and use of AI systems in Europe. It […]
On 11 March 2024, the FATF (Financial Action Task Force) has published a New Guidance on Beneficial Ownership and Transparency of Legal Arrangements (“Guidance”). The Guidance follows the February 2023 revisions to FATF Recommendation 25 on Beneficial Ownership and transparency of legal arrangements and updates the risk-based guidance for this Recommendation. The Guidance integrates the […]
On March 14th, IVASS (Institute for the Supervision of Insurance) published the results of the survey carried out on IBIP policies with ESG characteristics. Throughout 2023, the Authority acquired information from 18 insurance companies operating in the Italian market and providing policies with ESG characteristics. In particular, IVASS requested companies to give information on: (i) […]
The Constitutional Court, with judgement no. 32 of 29 February 2024, has declared as unconstitutional the version of art. 2952, paragraph 2 c.c. applicable between 2008 and 2012, that provided for a two-year limitation period for life insurance policies. The Constitutional judges explained that life insurance policies do not have an indemnity function with respect […]
With Law no. 55/2006 the institution of the family pact has been introduced in the Italian Civil Code (articles 768-bis to 768-octies). This instrument allows entrepreneurs, with the express consent of all the legitimate subjects, to derogate from the prohibition of inheritance agreements and to implement a kind of “anticipated succession” in favour of only […]
It is well known that under Article 648 ter of the Italian Criminal Code, anyone who has committed or conspired to commit a non-negligent crime by employing, substituting, transferring in economic, financial, entrepreneurial or speculative activities, money, goods or other utilities originating from the commission of such crime, in such a way as to concretely […]
On March 5, IVASS (Insurance Supervisory Authority) announced that in June 2024 the new Register of Intermediaries (RUI) Portal will be operational. The new RUI will allow intermediaries and insurance companies to enter and update data directly into the register. For this purpose, legal representatives of: intermediaries registered in Sections A, B, and D of […]
On March 5, IVASS issued Provision no. 142/2024 amending the Regulations no. 29/2016 and no. 38/2018. The Provision updates the criteria and eligibility requirements for officers and directors of insurance and re-insurance companies as well as the procedure that undertakings shall follow to assess the requirements of officers and directors. Article 1 of the Provision […]
The new legislation on mandatory insurance for the civil liability of motor vehicles, amending the Private Insurance Code (CAP) and aligning the national regulations with EU Directive 2021/2118 has been approved. The new regulations introduce the obligation to take out civil liability insurance for all vehicles, even for those that are parked or vehicles traveling […]
