IVASS – Market letter January 25, 2024

On January 25, 2024, the Institute for the Supervision of Insurance (IVASS) issued a letter to the market regarding dormant life insurance policies, i.e., policies that haven’t been claimed by beneficiaries and are held by insurance companies awaiting expiration.

In this regard, IVASS, in a letter dated November 22, 2023, had already provided insurance companies with useful instructions to access the National Resident Population Registry through the National Digital Data Platform, at least once a year. This enables them to verify the deceased status of policyholders and proceed with payments to beneficiaries.

With the letter to the market on January 25, the Authority clarifies that data on payments related to such policies will be collected by IVASS through a new procedure based on the Infostat platform.

Details of the data collection process will be disclosed by next February on the Authority’s website, along with instructions for completion.

Companies obligated to report that have never used Infostat weill have to register in advance on the website https://infostat-ivass.bancaditalia.it, submitting the attached accreditation form, duly completed, to the following PEC: studi.gestionedati@pec.ivass.it, with “Infostat – Request for POLDO survey activation” in the subject.
Companies already registered on the Infostat platform don’t need to submit additional accreditation forms.