UPDATES

Purchasing a Luxury Farm in Italy: A brief guide for foreign investors

Foreign investors planning to purchase a farmhouse with agricultural property in Italy (such as country houses with vineyards or olive trees) may avail themselves of a special regime offering significant tax advantages and financial benefits and incentives, both at the moment of purchasing the land and when running it thereafter. In more specific terms, this […]

Lazio Regional Administrative Court rules on the use of Preventivass

With the judgments of the Lazio Regional Administrative Court (TAR Lazio) no. 897/2023 (SNA – National Union of Insurance Agents vs. IVASS) and no. 10656/2022 (U.A.A – Union of Axa Agents and G.A.Z – Zurich Group of Agents vs. IVASS), the Preventivass case has been partially settled. Preventivass is a Web App developed with the […]

Ivass Statistical Bulletin: Solvency II Indicators

IVASS has launched a new series of statistical bulletins aimed at reporting some relevant trends in the Italian insurance market. The first bulletin focuses on the main indicators set out in the Solvency II. In particular, the most relevant information included into the first Bulletin are that: The average solvency ratio fell down to 247% […]

Yachts and sustainability: a brief report of the Monaco Symposium on Luxury

On the occasion of the first day of the Monaco Symposium on Luxury organized by the International University of Monaco taking place in the Principality of Monaco from April 4 to 6, 2023, we attended a very interesting event named “New Forms of Luxury… For a Better Tomorrow”.  The speakers included Carlo Moltrasio of Bain […]

Telemarketing: the Italian Privacy Authority approves the Code of Conduct

By Order No. 70 of March 9, 2023, the Italian Data Protection Authority approved the Code of Conduct for Telemarketing and Teleselling Activities (hence also referred to as the “Code” or the “Conduct Code”). The Privacy Authority has assessed that the draft of the Code of Conduct, which was submitted by a number of associations […]

Discussion Paper: AI and insurability

The Actuarial Association of Europe – AAE – has published a discussion paper on artificial intelligence and the challenges that the increasing spread of technological innovation brings to the insurability of risks. Insurability depends on the ability to assess the risks faced by the policyholders. Policyholders share the same risks: each one pays a premium that corresponds […]

The preliminary technical assessment can be used against the insurance Company

The report of the preliminary technical assessment can be used against the insurance Company that did not participate in the proceedings and was then called upon to indemnify by the Local Health Authority (“Asl”) and the medical doctor in a professional liability dispute. The document can be filed in the judgement on the merits and […]

Professional liability insurance: inflation adjustment

EIOPA launched a consultation – pursuant to the Insurance Distribution Directive (IDD) – on the draft of the amendment to the Regulatory Technical Standards (RTS) for the adjustment of the basic amounts for professional indemnity insurance (PII) and for the financial capacity of insurance intermediaries. Pursuant to the IDD changes to the minimum amounts of […]

“Navigating the high seas” VAT exemption – only for vessels involved in a commercial activity

The Italian Revenue Agency (Agenzia delle Entrate), in its reply no. 175 of January 31, 2023 has confirmed that in order to benefit of the non-taxable VAT status provided for by Article 8-bis, (1) (a) of the VAT decree (Presidential Decree No. 633/72), it is not sufficient that the vessel is used for navigation on […]