Single Register of Intermediaries
The Register of insurance, reinsurance and ancillary insurance intermediaries - RUI, available as from 1 February 2007, contains the essential data about the persons acting as insurance and reinsurance distributors 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.
The Code of Private Insurance has been amended and supplemented by legislative decree no. 68 of 21 May 2018, implementing Directive (EU) 2016/97 on insurance distribution, recasting and repealing Directive 2002/92/EU on insurance mediation (IMD1).
The Code has been implemented through secondary regulations, i.e. IVASS Regulation no. 40 of 2 August 2018, in force since 1 October 2018.
According to such regulations the carrying on of insurance distribution is reserved to:
- the intermediaries enrolled in the RUI;
- the undertakings acting as distributors, or the insurance or reinsurance undertakings when they directly carry on the activities of insurance and reinsurance distribution in accordance with article 109 (1-bis) of legislative decree n. 209 of 7 September 2005, through their own employees and/or by means of distance communication techniques.
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 6 sections:
• section A (agents)
• section B (brokers)
• section C (direct canvassers of insurance undertakings)
• section D (banks, stock brokerage companies, financial intermediaries as per article 106 of the Consolidated Banking Law, payment institutions as defined in article 114-septies of the Consolidated banking law and Poste italiane - Divisione servizi di bancoposta)
• section E (the staff involved in distribution outside the premises of the intermediary registered under sections A, B, D, F or in the enclosed List, for which they conduct business, ancillary insurance intermediaries acting on behalf of another intermediary pursuant to article 109-bis (5) of the Code, as well as the staff of the intermediaries registered under section E who carry on business outside their premises)
• section F (ancillary insurance intermediaries acting on behalf of one or more insurance undertakings pursuant to article 109-bis (1) of the Code).
Please note that The intermediaries who carry out activities corresponding to those defined in article 1 (1, cc)-septies) of the Code (ancillary insurance intermediary) are temporarily enrolled under section A of the Register.
8 January 2021
Subjects responsible for insurance distribution at undertakings acting as distributors
Subjects responsible for insurance distribution at intermediaries registered in section D of the RUI
Ancillary insurance intermediaries acting on behalf of another intermediary
Pre-contractual Information and Documents
Intermediaries shall make available to the public in their premises, also using technological equipment, information printed in bold characters and conforming to the model envisaged in Annex 3, illustrating the main behavioural obligations imposed on intermediaries.
Before policyholders sign a proposal or, when not envisaged, an insurance contract, intermediaries shall deliver them:
• copy of a statement, conforming to the model envisaged in annex 4;
• in case the proposal is being offered away from business premises or in case the pre-contractual steps are accomplished via distance communication techniques a statement, conforming to the model envisaged in annex 3;
• pre-contractual and contractual information documents envisaged by the current provisions.
In case of renewal or of conclusion of further contracts with the same intermediary the annexes 3 and 4 shall be delivered or sent to the policyholder only if there are any variations in the information contained in it.
The above documentation may be sent to the policyholder, at his/her express request, by using distance communication techniques or through the Internet.
Annex 4 contains a special section dedicated to the intermediaries operating within the premises of the principal intermediary and of the intermediary registered in section E, which are not required to be enrolled in the Register.
Notification of mandates
Undertakings must notify IVASS of:
• the granting of insurance or reinsurance distribution mandates to the intermediaries registered in sections A, D or F 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, by means of a track record drawn up according to the specific techniques illustrated in Annex 2 to IVASS Regulation no. 40/2018.
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, starting date of the period of inactivity, changes in the posts held in companies registered in Sections A, B or F of the RUI, appointment or termination of office of the subject responsible for distribution of the intermediaries registered in section D of the RUI and of undertakings acting as distributors) must be sent in digital format using the PDF electronic form which shall be filled in off-line, digitally signed and sent as an attachment by certified electronic mail (PEC) to the address: email@example.com.