On June 11, 2024, the Financial Intelligence Unit (FIU) has published Study no.22 which examines the development of a machine learning algorithm designed to identify companies which may have connection with Organized Crime (“OC”) in Italy. This model utilizes a dataset of 1.804.278 Italian enterprises in the period 2010-2021, which includes financial sheets data, debt […]
On May 31, in view of the entry into force of the Digital Operation Resilience Act (DORA) in January 2025, the European Supervisory Authorities (EBA, EIOPA, and ESMA, collectively the ESAs) published the models and tools useful for the test exercise on the reporting of registers containing information regarding ICT services (Information and Communication Technologies). […]
On June 4, 2024, IVASS Order No. 144 was published with amendments and additions to IVASS Regulation No. 44/2019, concerning implementing provisions aimed at preventing the use of insurance companies and insurance intermediaries for the purposes of money laundering and terrorist financing in the area of organization, procedures and internal controls and customer due diligence […]
On May 23-24, the Annual Meeting onways to enhance the attractiveness of Life products and segregated funds, organized by “Itinerari Previdenziali” in collaboration with ANIA was held in Bologna. During the conference, IVASS’s Secretary General, Stefano De Polis, highlighted the recent increase of the interest rates, which in 2023 led to a progressive contraction in […]
With ruling no. 15216 of 30 May 2024, the Supreme Court of Cassation established that a settlement signed by a doctor employed by a health care facility doctor and an injured patient, does not suffice to safeguard the health care facility and its insurers from liability. Indeed, the health care facility (and its insurers) cannot […]
The possible applications of generative artificial intelligence in insurance are often discussed. AI promises to optimise internal processes and create highly personalised customer experiences, revolutionising companies’ operations and interaction with customers. Over the past decade, advanced technologies such as machine learning and artificial intelligence have been studied and implemented by companies around the world. Efficiency […]
Introduction The Captain’s role consists of running the crew, overseeing the technical conditions of the yacht, making sure that the yacht is secure and safe in compliance with the relevant international maritime regulations. In addition, pursuant to article 295 of the Italian Navigation Code and the 2006 Maritime Labor Convention, the Captain is the legal […]
In a very recent ruling, issued on 15 April, the Court of Perugia – on the subject of accident insurance – ruled that, in disputes concerning the recognition of the right to compensation, the burden of proof lies with the insured party, who must prove not only the dynamics of the accident and the resulting […]
Starting from June 4, 2024, the new Single Register of Intermediaries (RUI) will be officially operational, allowing intermediaries and insurance companies to directly enter and update their own data in the IVASS’ RUI. To this end, it is necessary that (i) the legal representatives of intermediary companies registered in sections A, B, and D of […]
The Bank of Italy, together with the Financial Intelligence Unit (UIF), has issued a press release regarding the revision of the automatic control system performed during the acquisition of Objective Communications, which are made mandatory by the UIF in order to periodically transmit data and information selected based on objective criteria, concerning transactions at risk […]
