Italian VAT on yacht charters/leasing: the proof regime of the effective use of the service outside the European Union
- Posted By Domenico Rinaldi
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- 22 July 2020
Further legislative changes IntroductionThe Italian Budget Law for 2020 (Law no. 160 of 27 December 2019) has amended the rules regulating the application of the Italian VAT on short term charters (within 90 days) of yachts, regulated by Article 7-quarter,…
COVID – 19: Best practices in the insurance sector
- Posted By Giovanna Aucone
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- 20 July 2020
On July 16, 2020, IVASS published a press release on its website in which the European Commission welcomed the list of “best practices” agreed by the financial sector and consumer and business organisations to contribute to further mitigate the impact…
Letter to the market of July 17, 2020 – New Protocol for the exchange of information
- Posted By Giovanna Aucone
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- 20 July 2020
On July 17, 2020, IVASS published the letter to the market clarifying the new protocol for the exchange of information – parallel operational deadline and launch of the Infostat quarterly premium survey (PTRIM). In particular, IVASS pointed out to the…
It is not possible to deny insurance coverage through complicated interpretations of the insurance contract
- Posted By Giovanna Aucone
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- 9 July 2020
The Supreme Court by order no. 11092/2020 clarified that it is not possible to exclude insurance coverage through complex interpretations of the policy. In the case at issue, the plaintiffs challenged the decisions of first and second instances based on…
Unfair competition within the insurance market
- Posted By Giovanna Aucone
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- 9 July 2020
In recent time, the insurance market is exposed to a practice implemented by insurance agents of promoting new products to customers of their former Insurance Company. Such conduct exposes the agent to the risk of receiving compensation claims from the insurance…
COVID-19 Emergency: Reinstatement of normal deadlines for handling complaints and requests for information
- Posted By Giovanna Aucone
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- 9 July 2020
With a communication published on IVASS’s website on June 30, 2020 the Authority informed companies and intermediaries about the reinstatement of the normal deadlines for handling complaints and requests for information, that companies will receive from July 1, 2020. As…
A twisted interpretation of the contract cannot exclude insurance cover
- Posted By Giovanna Aucone
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- 22 June 2020
With decision no. 11092 of June 10, 2020, the Third Civil Section of the Court of Cassation ruled out that a twisted interpretation of the insurance contract could be considered suitable to deny insurance cover, recalling the obligation of good…
The Supreme Court On Claims Made Clauses
- Posted By Giovanna Aucone
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- 22 June 2020
Recently, the Supreme Court has once again ruled on the issue of claims made clauses, with two rulings that seem to oppose each other. These are ruling No 8117 of April 23, 2020 and ruling No 8894 of May 13,…
YET: UCINA has just started discussions with the Customs Agency
- Posted By Gianfranco Puopolo
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- 11 July 2019
In May 2019, the Italian National Union of Shipyards and Nautical Industries (“UCINA”), in the light of a new interpretation of the EU customs legislation, started discussions with the Italian Customs Agency regarding Commercial Yachts and YETs (Yachts Engaged in…