Insurance Distribution

Insurance distribution plays a particularly important role also in view of the innovations introduced by Directive (EU) 2016/97, transposed into the Italian law by legislative decree no. 68 of 21 May 2018, which has amended the Code of Private Insurance (leg. decree no. 209/2005).

The new directive introduces more efficient and simplified systems for the management of registers and for the supervision of undertakings and intermediaries, improving the level of consumer protection and consolidating in the European law principles and rules already present in Italian rules.

The new national regulatory framework, mainly made up of the rules of the Code of Private Insurance and of IVASS Regulations no. 39, 40 and 41 of 2 August 2018:

  • introduces more stringent rules on fairness of behaviours for those who sell or promote an insurance product;
  • simplifies and standardizes consumer information;
  • reinforces the sanctioning system and revises the relevant procedures with the aim of streamlining them.

Last update

30 July 2019

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European directives

  1. Directive 2018/411/EU of 14/03/2018 pdf 364.9 KB Directive 2018/411/EU of 14 March 2018  amending Directive 2016/97/EU
  2. Directive 2016/97/EU of 20/01/2016 pdf 1.3 MB Directive of the European Parliament and of the Council on insurance distribution

European Regulations

  1. Delegated Regulation (EU) 2024/896 of 5 December 2023 pdf 442.0 KB Delegated Regulation (EU) 2024/896 amending Directive (EU) 2016/97 of the European Parliament and of the Council
  2. Legislative decree no.114 of 3/08/2022, implementing Regulation (EU) 2019/1238 on the Pan-European Personal Pension product(only in Italian) pdf 7.6 MB
  3. Regulation (EU) 2019/1238 of 20 June 2019 pdf 870.0 KB Regulation of the European Parliament and of the Council of 20 June 2019 on a pan-European Personal Pension Product (PEPP)
  4. Delegated Regulation (EU) 2019/1935 of 13/05/2019 pdf 500.1 KB
  5. Delegated Regulation (EU) 2018/541 of 20/12/2017 pdf 364.3 KB Regulation amending Delegated Regulation (EU) 2017/2358 and Delegated Regulation (EU) 2017/2359 as regards their dates of application
  6. Delegated Regulation (EU) 2017/2359 of 21/09/2017 pdf 1.4 MB Regulation supplementing Directive (EU) 2016/97 with regard to information requirements and conduct of business rules applicable to the distribution of insurance-based investment products
  7. Delegated Regulation (EU) 2017/2358 of 21/09/2017 pdf 1.4 MB Supplementing Directive (EU) 2016/97 of the European Parliament and of the Council with regard to product oversight and governance requirements for insurance undertakings and insurance distributors
  8. Commission Delegated Regulation (EU) 2017/653 of 8 March 2017 - Including modification until 1 January 2023 pdf 1004.5 KB Commission Delegated Regulation (EU) 2017/653 supplementing Regulation (EU) No 1286/2014, on key information documents for "PRIIPs" products (this text is meant purely as a documentation tool and has no legal effect)
  9. Regulation (EU) 2016/1904 of 14 July 2016 pdf 359.1 KB Regulation supplementing Regulation (EU) No 1286/2014 of the European Parliament and of the Council with regard to product intervention
  10. Regulation (EU) No 2014/1286 of 26/11/2014 pdf 1.2 MB Regulation on key information documents for "PRIIPs" products

EIOPA Guidelines and documents

  1. EIOPA - Peer Review on Product Oversight and Governance (POG) pdf 521.9 KB
  2. Decision of the Board of Supervisors on the cooperation of the competent authorities, based on IDD Directive, with Annex. pdf 580.6 KB
  3. Preparatory Guidelines on product oversight and governance arrangements by insurance undertakings and insurance distributors pdf 130.0 KB
  4. EIOPA Draft Implementing Technical Standards on a standardised presentation format for the non-life Insurance Product Information Document pdf 552.0 KB EIOPA draft ITS on IPID pursuant to Art. 20 of the Directive n. 2016/97 (IDD)
  5. EIOPA Technical Advice on possible delegated acts concerning the Directive n. 2016/97 on the Insurance Distribution (IDD) pdf 726.4 KB

National regulatory framework

  1. Order no. 134 of 25/07/2023 (only in Italian) pdf 398.9 KB
  2. Order no. 131 of 10/05/2023 (only in Italian) pdf 361.1 KB
  3. Order No. 128 of 20/02/2023 (only in Italian) pdf 319.1 KB
  4. Order No. 109 of 27/01/2021 (only in Italian) pdf 287.7 KB
  5. Order No. 107 of 12/01/2021 (only in Italian) pdf 317.9 KB
  6. Order No. 99 of 06/10/2020 (only in Italian) pdf 303.7 KB
  7. IVASS Regulation No. 45 of 4/08/2020 (only in Italian) pdf 345.8 KB
  8. Order No. 97 of 04/08/2020 (only in Italian) pdf 716.6 KB
  9. Order No. 90 of 05/11/2019 (only in Italian) pdf 306.7 KB
  10. Order No. 84 of 13/02/2019 (only in Italian) pdf 299.6 KB
  11. IVASS Regulation No. 41 of 2/8/2018 (only in Italian) pdf 707.4 KB
  12. IVASS Regulation No. 40 of 2/8/2018 (only in Italian) pdf 478.6 KB
  13. IVASS Regulation No. 39 of 2/8/2018 pdf 708.8 KB
  14. Order No. 76 of 2/8/2018 (only in Italian) pdf 243.5 KB
  15. ISVAP Regulation No. 24 of 19/05/2008 pdf 429.6 KB

LIST OF GENERAL GOOD PROVISIONS APPLICABLE TO FOREIGN UNDERTAKINGS AND INTERMEDIARIES

  1. List of general good provisions applicable to foreign undertakings pdf 267.4 KB
  2. List of general good provisions applicable to foreign insurance and reinsurance intermediaries pdf 162.4 KB