Annual obligations

According to the sectoral provisions intermediaries, when pursuing insurance and reinsurance distribution activities, are required to comply with some annual obligations. In detail:

• the persons registered under section A or F are required

    - to pay the supervisory fee;
    - to renew their professional indemnity insurance contract, except for cases of multi-year contracts.

• the persons registered under section B are required

    - to pay the supervisory fee;
    - to pay the contribution to the Guarantee Fund (for further information you can consult the website www.consap.it);
    - to renew their professional indemnity insurance contract, except for cases of multi-year contracts.

• the persons registered under section C or D are required

    - to pay the supervisory fee.

• the persons registered in sections A, B, D or F, as an alternative to the obligation to keep segregate assets, may - by means of a bank guarantee - document on a permanent basis a financial capacity equal to 4% of collected premiums, with a minimum of 19,510 euro, as laid down in articles 117 (3-bis) of the CAP and 64 of IVASS Regulation no. 40 of 2 August 2018 as amended by Delegated Regulation (EU) 2019/1935. For further details please visit the page Single Register of Intermediaries, within the sections of the intermediaries concerned in.