IVASS publishes Measure no. 97/2020
- Posted By Giovanna Aucone
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- 6 August 2020
On 4 August 2020 IVASS published Measure no. 97 of August 4 2020, amending ISVAP Regulations no. 23/2008, no. 24/2008 and IVASS Regulations no. 38/2018, no. 40/2018 and no. 41/2018. Below are the amendments introduced with respect to each of…
IVASS publishes Regulation No. 45/2020
- Posted By Giovanna Aucone
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- 6 August 2020
On August 4, 2020, IVASS published Regulation No. 45 containing provisions on the governance and control requirements for insurance products, thereby completing the regulatory provisions on the subject set out in the POG Delegated Regulation and the CAP, thus implementing…
The right to cancel the contract and the Insurer’s forfeiture pursuant to Article 1892 of the Italian Civil Code
- Posted By Giovanna Aucone
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- 5 August 2020
With regard to personal accident insurance, the 3rd Section of the Italian Supreme Court by order no. 1166 of 21.01.2020, clarified that the period of three months triggered from the discovery of inaccurate or reticent declarations (pursuant to article 1892…
Application of interest on late payments to Insurance Indemnity
- Posted By Giovanna Aucone
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- 5 August 2020
The Third Civil Section of the Italian Supreme Court by order no. 7966 dated 20 April 2020, clarified that the interest on late payments provided for by Legislative Decree no. 231/2002 is not applicable to insurance indemnity related to civil…
IVASS – Updating of rules of interest for foreign intermediaries
- Posted By Giovanna Aucone
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- 5 August 2020
On 3 August 2020, IVASS published an update of the general interest rules applicable to foreign intermediaries and relating to obligations and rules of conduct for intermediaries. This list cannot be considered exhaustive, therefore foreign intermediaries are not exempted from…
IVASS: Recommendations on dividend distribution and remuneration policies
- Posted By Giovanna Aucone
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- 4 August 2020
On July 30, 2020, IVASS, in view of the uncertainties regarding the evolution of the emergency situation and taking into account the recommendation of the European Systemic Risk Board (ESRB) of May 27, asked the companies for some solutions on…
In the consultation the amendments to the Intermediaries’ Regulations: knowledge and competence requirements for the agents of the network
- Posted By Giovanna Aucone
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- 27 July 2020
On July 23, 2020, Consob placed in public consultation the proposals for amendments to the Intermediaries’ Regulations concerning the knowledge and competence requirements of intermediaries’ agents. In this regard, it should first be recalled Article 25, paragraph 1 of Directive…
In the consultation the amendments to the Intermediaries’ Regulations: knowledge and competence requirements for the agents of the network
- Posted By Giovanna Aucone
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- 24 July 2020
On July 23, 2020, Consob placed in public consultation the proposals for amendments to the Intermediaries’ Regulations concerning the knowledge and competence requirements of intermediaries’ agents. In this regard, it should first be recalled Article 25, paragraph 1 of Directive…
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…