The Italian Regulator (IVASS) has recently issued the Order n. 128/2023 amending IVASS Regulation 40/2023
The Order set up new rules for intermediaries promoting or placing insurance products on the internet.
Indeed, the Order introduces the obligation to all intermediaries operating on Italian territory to communicate the internet domains and sub-domains used, both for marketing and for placement of insurance contracts.
The aim is to provide better protection
- both of policyholders, by strengthening supervision and reducing the phenomenon of irregular websites
- and of intermediaries, by reducing the reputational risk of seeing their data illegitimately associated with websites created by unlicensed third parties.
According to the IVASS Report attached to the Order, "The Institute will thus have a list of the domains and sub-domains on the internet communicated by regular intermediaries, which it may in the future consider publishing on its institutional site (the so-called white list), increasing the level of accreditation of the intermediaries themselves and ensuring greater consumer protection."
For the fulfilment of the obligation, special technical instructions have been issued for the computerised transmission and updating, by means of PEC, of the data, and for the intermediary authorised to operate in the territory of the Republic under the regime of free provision of services, another address made available by Ivass will have to send its communications.
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