Governance, Risk and Compliance - The Italian Insurance Industry

Table of Contents
1 INTRODUCTION
1.1 What is this Report About?
1.2 Definitions
2 GOVERNANCE, RISK AND COMPLIANCE
2.1 Legislation Overview and Historical Evolution
2.2 Latest Changes in Regulation
2.3 Legislation and Market Practice by Type of Insurance
2.3.1 Life insurance
2.3.2 Property insurance
2.3.3 Motor insurance
2.3.4 Liability insurance
2.3.5 Marine, aviation and transit insurance
2.3.6 Personal accident and health insurance
2.4 Compulsory Insurance
2.4.1 Motor third-party liability insurance
2.4.2 Civil liability insurance for motor boats and yachts
2.4.3 Social insurance system
2.4.4 Air carriers and aircraft operators' insurance
2.4.5 Professional indemnity insurance for healthcare professionals
2.4.6 Professional indemnity insurance for alternative investment fund managers
2.4.7 Clinical trials liability insurance
2.4.8 Liability insurance for domestic market specifically for ships
2.4.9 Liability for ships with respect to oil pollution
2.4.10 Professional indemnity insurance for insurance brokers and agents
2.4.11 Third-party liability insurance for remotely piloted aerial vehicles
2.4.12 Compulsory insurance for lawyers
2.5 Supervision and Control
2.5.1 International Association of Insurance Supervisors
2.5.2 European Insurance and Occupational Pensions Authority
2.5.3 Federation of European Risk Management Associations
2.5.4 Italian Insurance Supervisory Authority
2.6 Non-Admitted Insurance Regulation
2.6.1 Overview
2.6.2 Intermediaries
2.6.3 Market practices
2.6.4 Fines and Penalties
2.7 Company Registration and Operations
2.7.1 Type of insurance organization
2.7.2 Establishing a local company
2.7.3 Foreign ownership
2.7.4 Types of license
2.7.5 Capital requirements
2.7.6 Solvency margin
2.7.7 Reserve requirements
2.7.8 Investment regulations
2.7.9 Statutory return requirements
2.7.10 Fee structure
2.8 Taxation
2.8.1 Insurance premium or policy taxation
2.8.2 Withholding taxes on premiums paid overseas
2.8.3 Corporate tax
2.8.4 VAT
2.8.5 Captives
2.9 Legal System
2.9.1 Introduction
2.9.2 Access to court
2.9.3 Alternative dispute resolution (ADR)
3 APPENDIX
3.1 Methodology
3.2 Contact GlobalData
3.3 About GlobalData
3.4 GlobalData's Services
3.5 Disclaimer

List of Tables
Table 1: Insurance Industry Definitions 6
Table 2: Italy - Insurance Regulatory Framework Key Features
Table 3: Italy - Life Insurance Regulatory Framework
Table 4: Italy - Property Insurance Regulatory Framework
Table 5: Italy - Motor Insurance Regulatory Framework
Table 6: Italy - Bonus-Malus Framework
Table 7: Italy - Framework of change from deductible to bonus-malus
Table 8: Italy - Liability Insurance Regulatory Framework
Table 9: Italy - Minimum Cover for Aircraft Third-Party Liability Per Accident Per Aircraft
Table 10: Italy - Submission Dates for Reporting Obligation
Table 11: Italy - Submission Dates for Reporting Obligation
Table 12: Italy - Taxation on Insurance Products
Table 13: Italy - Corporate Tax Rates for the Financial Year 2019

List of Figures
Figure 1: Italy - Insurance Supervision and Control at Various Levels
Figure 2: Italy - Insurance Regulatory Frameworks for Company Registration and Operation