On 17 July, the Institute for Insurance Supervision (IVASS) launched a public consultation on the draft measure amending IVASS Provision No. 79/2018 (the “Provision”) regarding the criteria for calculating costs and any deductibles for determining compensation between insurance companies in the event of direct compensation. IVASS intends to amend Annex 1 of the Provision by […]
On 17 July, the Institute for Insurance Supervision (IVASS) published consultation document No. 4/2024, which contains proposals for amendments and additions to IVASS Regulation No. 36/2017 (“hereinafter the Regulation”) on the new methods for the transmission of data flows in relation to the IPER motor vehicle survey. The consultation document, which consists of 3 articles, […]
On 12 July, IVASS launched the Natural Catastrophe Risk and Sustainability Monitoring for the year 2024. The survey aims to collect qualitative and quantitative data to mitigate the risks associated with climate change. On the IVASS website, undertakings will find the necessary instructions for filling in and submitting data via the Infostat platform, as well […]
On 15 July, the International Association of Insurance Supervisors (IAIS) launched a public consultation on climate risk supervisory guidance. Climate change, as a source of risk that could have an impact on the insurance market, has always been a key issue for the IAIS. For this reason, the IAIS considers it important to adopt a […]
With ruling no. 18518/2024 of July 8, 2024, the Italian Supreme Court of Cassation formulated and reaffirmed the following important legal principle regarding the liability of Public Entities under Article 2051 of the Civil Code: “In matters of liability pursuant to Article 2051 of the Civil Code, the injured party bears the burden of proving […]
On July 2, the European Insurance and Occupational Pensions Authority (EIOPA), in accordance with Article 29, paragraph 1, letter a) of Regulation (EU) 1094/2010, published an opinion on captive insurers con its website, with particular attention to intragroup operations and the application of the “prudent person principle”. The document is addressed to the competent supervisory […]
On July 1, the European Banking Authority (EBA) published an opinion addressed to Consob, in response to Consob’s notification regarding the decision to grant authorization pursuant to Article 26-sexies, para. 10, of the Regulation (EU) 2017/2402 on securisations. Specifically, the authorization aims to use high-quality guarantees for securitizations in balance sheets, in the form of […]
On June 13th, the hearing of the IVASS representatives took place at the “Parliamentary Oversight Committee on the activities of the managing bodies of compulsory social security and welfare schemes” as part of a fact-finding survey on the balance and results of the management of the expanded pension sector, with particular regard to demographic transition, […]
According to information circulating in the Italian press the Industry Committee of the Italian Senate has just concluded its votes on the amendments to the Agriculture Decree, opening a gap with respect to the possibility of installing ground-mounted photovoltaic plants, which was restricted by the same. An amendment was approved for plants that have already […]
On June 25th, the “Round Table on sustainable finance” – promoted by the Italian Ministry of Economy and Finance and composed of the Ministry of Environment and Energy Security, the Ministry of Enterprises and Made in Italy, the Bank of Italy, the National Commission for Companies and the Stock Exchange (CONSOB), the Institute for Insurance […]
