Italy: Detailed Assessment of IAIS Insurance core Principles
Electronic Access:
Free Download. Use the free Adobe Acrobat Reader to view this PDF file
Summary:
This paper discusses the findings of Detailed Assessment of International Association of Insurance Supervisors (IAIS) insurance core principles on Italy. Regulation and supervision of the insurance industry in Italy is the responsibility of the newly established Institution for the Supervision of Insurance (IVASS). IVASS has reached international best practice in several areas of supervision. IVASS actively exercises group supervision and by 2000, IVASS established the first college of supervisors. Intragroup transactions and related party participations limits are strictly monitored and enforced. IVASS handling of the licensing of undertakings is complete and comprehensive and ensures appropriate considerations pursuant to regulations. Enhanced supervision in some areas is required.
Series:
Country Report No. 2013/352
Subject:
Corporate governance Economic sectors Financial institutions Financial sector policy and analysis Insurance Insurance companies Internal controls Revenue administration Solvency
Notes:
These documents have been produced in the context of the recent Italy FSAP as background documents to the Financial System Stability Assessment (FSSA) report that was discussed by the Executive Board on September 20, 2013 and published shortly thereafter (the FSSA is available here).
English
Publication Date:
December 6, 2013
ISBN/ISSN:
9781475529579/1934-7685
Stock No:
1ITAEA2013011
Pages:
142
Please address any questions about this title to publications@imf.org