Constantly updated on the latest regulatory news, Double S Insurance has always been accurate to the timely application of mandatory rules (laws, regulations, provisions of the Supervisory Authorities) and self-regulation (i.e. statutes, codes of conduct, self-regulation codes, internal policies and corporate communication documents) that head the insurance brokerage sector.
In particular, in the current national insurance framework, the reference regulatory text is the legislative decree no. 209 of 7th September 2005, as known as Code of Private Insurance, and subsequent amendments and additions (first of all amended by the Legislative Decree no. 74/2015, as well as subsequently by the Legislative Decree no. 68 of 21st May 2018 which implemented, with effect from the 1st of October 2018, the European Directive n. 97 / 2016 – Insurance Distribution Directive).
As defined by IVASS, “The Private Insurance Code is a law of principles and attribution of powers that establishes the fundamental rules and defines the competences of IVASS. In particular, it gives the Institute the power to issue secondary regulations (Regulations, Provisions, etc.) and to adopt prudential measures.”
In this regard, IVASS has issued a series of implementing regulations including the Regulation no. 40 of 2nd August 2018, containing news on “insurance and reinsurance distribution”, as well as the Regulation no. 41 of 2nd August 2018, containing further news regarding “information, advertising and creation of insurance products”.