Single Register of Intermediaries
IVASS is working to bring the section in line with the new regulations introduced by the implementation of Directive 2016/97/EU on insurance distribution
The Single Register of insurance and reinsurance intermediaries – RUI, available as from 1 February 2007, contains the essential data about the persons acting as insurance and reinsurance intermediaries on the Italian territory and having their residence or head office in Italy.
The Register was set up by the Insurance Code, in implementation of Directive 2002/92/EC on insurance mediation, and is governed by ISVAP Regulation n. 5 of 16 October 2005. According to such regulations the carrying on of insurance mediation activity is reserved solely to the persons enrolled in the Register.
For the protection of consumers and the market the Register therefore provides a complete snapshot of the persons carrying out insurance mediation activities. It is subdivided into 5 sections:
- section A (agents)
- section B (brokers)
- section C (direct canvassers of insurance undertakings)
- section D (banks, financial intermediaries as per article 107 of the Consolidated Banking Law, stock brokerage companies and Poste Italiane – Divisione servizi di bancoposta)
- section E (collaborators of the intermediaries registered under sections A, B and D conducting business outside the premises of such intermediaries).
The same intermediary may not be recorded in more than one section of the RUI, except for intermediaries recorded under sections A and E for the sole distribution tasks pertaining to motor vehicle liability insurance.
Intermediaries registered in sections A, B or D of the RUI and intermediaries registered in the List of EU intermediaries (List enclosed to the RUI) may adopt forms of mutual collaboration in the performance of their activity, also by making use of their respective mandates, in compliance with the regulations laid down in art. 22 of decree-law 179/2012.
Pre-contractual Information - Documents
Annex 7A to ISVAP Regulation n. 5/2006 illustrates the main behavioural obligations imposed on intermediaries.
The document conforming to the model 7A - printed in bold characters - must be:
- displayed on the intermediary's premises, in a location visible to members of the public;
- sent by the intermediary to the client before signing the proposal or, when not envisaged, the insurance contract, in case they are being offered away from business premises or in case the pre-contractual steps are accomplished via distance communication techniques.
Annex 7B to ISVAP Regulation n. 5/2006 reports the essential information on intermediaries and their activity.
The document conforming to the model 7B must be delivered by the intermediary to the client before signing the proposal or, where not envisaged, the insurance contract.
In case of renewal or conclusion of further contracts with the same intermediary the annexes 7A and 7B shall be delivered or sent to the client only if there are any variations in the information contained in it.
Notification of mandates
Undertakings must notify IVASS of:
- the granting of insurance or reinsurance mediation mandates to the intermediaries registered in sections A or D of the RUI, or to the intermediaries of the European Economic Area included in the list enclosed to the RUI;
- any change in the information referred to the mandates granted, including the termination of the mandate.
The communications concerning the granting and revocations of mandates must be sent in digital format by certified electronic mail to the dedicated address email@example.com, by means of a track record (ISVAP Regulation No. 5 - Mandates xls 3.7 MB or ISVAP Regulation No. 5 - Mandates FOS xls 3.7 MB) drawn up according to the specific techniques illustrated in Document A, enclosed to ISVAP Regulation No. 5/2006
Applications and communications
Applications (for registration, reinstatement, removal, establishment and change of a collaboration relation, shift to another section, extension of mediation business to other EEA States) and communications relating to the management of the RUI (starting of the activity, changes in the posts held in companies registered in Sections A or B of the RUI) must be sent in digital format using the PDF electronic form which shall be filled in offline, digitally signed and sent as an attachment by certified electronic mail (PEC) to the address: firstname.lastname@example.org
Moreover, the following forms can be used: