On April 17, 2024, IVASS published instructions regarding the electronic transmission of data related to the consolidated annual financial statements and additional information, as established under Articles 26 and 27 of ISVAP Regulation No. 7/2007 (amended by Provision No. 121 of June 7, 2022), providing clear guidance for insurance companies. The instructions clarify how to […]
On April 18-19 2024, a meeting of the association Confconsumatori with the title “Generation F: comparisons, reflections, and ideas for a more sustainable financial and insurance future”, dedicated to the financial and insurance future of citizens took place in Parma. During the first day, inter alia, the theme of life insurance policies Branch I, Branch […]
A new chapter opens in the debate between privacy and access to documents, with an insurance company filing an appeal against a Local Health Authority (ASL) for rejected access to documents concerning a road accident. The company insisted on the importance of reviewing the recording of a call to emergency services (118) to verify the […]
On April 15, 2024 , CONSOB (“National Commission for Companies and the Stock Exchange”) published on its website a press release jointly adopted with the Spanish, French and Austrian Supervisory Authorities, Comisión Nacional del Mercado de Valores (CNMV – Spain), the Autorité des marchés financiers (AMF – France) and the Finanzmarktaufsicht (FMA – Austria), concerning […]
With decision No. 9418/2024 of April 9, 2024, the Italian Supreme Court ruled again on the nature of unit-linked policies. The ruling, recalling the previous cases law on the point, highlighted that unit-linked policies, to be qualified as an insurance product, must contain a demographic risk consisting of an event linked to human lifespan, upon […]
The Italian Court of Cassation recently ruled on the complex issue of the reimbursement of premiums paid to agents following the early termination of the contract on initiative the agent, regardless of the reason for termination. The dispute was originally been pending with the Court of Naples. Said local court had ruled in favour of […]
With decision No. 97 dated February 22, 2024, the Italian Data Protection Authority (or the “Authority”) imposed a fine of € 75,000.00 on a Local Health Authority (ASL) for irregularities in handling the electronic health record. The investigations stemmed from several reports concerning improper access to personal data through the healthcare organization’s storage and reporting […]
On April 11th, the European Supervisory Authorities (ESAs), ESMA, EBA and EIOPA, announced the launch of a voluntary trial run regarding collection of the registers of information of contractual arrangements on the use of ICT third-party service providers by the financial entities requested under the DORA (Regulation) in May 2024. The dry run exercise has […]
On April 4th, EIOPA published a document on the supervision of reinsurance activity with companies operating in third countries, following the provisions of Directive 2009/138/CE (Solvency II) and Annex Delegated Regulation (EU) 2015/35. The document highlights risks arising from reinsurance activities with reinsurers operating in a regulatory framework different than that regulated by the Solvency […]
The Council of State, with the recent decision no. 10455 of December 4, 2023, reaffirmed that the state-owned maritime concessions shall be subject to public bids for tenders, as established by EU law and by the predominant EU Court of Justice’s case-law. This principle is also enshrined under article 12 of Directive 2006/123/CE (the so-called […]
