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Published 19 May 2023
Overview
By communication published on the 12th of May 2023 (the “Communication”), the Italian Supervisory Authority (IVASS) issued the new procedure for data collection pursuant to IVASS Regulations 44/2019 and 50/2022 along with the relevant instructions for the electronic submission on the “Infostat platform” (the “Platform”).
The Communication follows the previous Letter to the Market dated 29 November 2022 (the “Letter”). By that Letter, IVASS had anticipated that a new procedure for data and information collection about life and non-life insurance activity carried out in Italy (the “Data”) was about to be implemented. IVASS had also clarified that the insurers will have to apply for registration on the Platform.
Following up the Letter, the Communication informs the insurers that the instructions for the submission through the Platform have been now published on IVASS' website.
The Communication reminds that foreign insurers (and so, particularly, EU insurers carrying on business in Italy under FoS / FoE regime) are also required to submit the Data through the Platform. Those insurers (both domestic and non-Italian ones), who are not still registered on the Platform, are required to do so.
Key Contacts
