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Italy: New IVASS Regulation on simplification measures for contractual relationships

Following the public consultation launched on 18 March 2014, IVASS published today Regulation No. 8 of 3 March 2015 concerning measures to simplify the administration of contractual relationships between insurance undertakings, intermediaries and clients (“Regulation 8”). Regulation 8 implements Article 22, paragraph 15-bis of Law Decree No. 179 of 18 October 2012, as converted into law (the so called “Growth Decree”) which required IVASS to enact measures aimed at reducing the paper format requirements and promoting the use of digital documentation.

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