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Please make sure you view the key information alongside your search results. This section details information that must be considered before accepting a risk in the chosen country.

Disclaimer: Crystal is provided for information purposes; it does not constitute solicitation of business and is not intended to be a substitute for appropriate professional advice.

Italy** Please see Lloyd's Authorisation for details of Lloyd's licensing status

Pre-placement considerations

Lloyd's authorisation

Insurance

Lloyd’s underwriters are authorised to write:

  • All classes of insurance in this territory on a freedom of services basis, and
  • All classes except surety and term life insurance on an establishment basis

The Italian insurance regulator regards all insurance evidenced by a written contract issued in Italy as establishment business.

Lloyd's underwriters can accept insurance for the classes listed below, either on a freedom of services or establishment basis:

Last updated: 13 May 2016


Reinsurance

Lloyd's underwriters are permitted to write all classes of reinsurance business originating in Italy.
Last updated: 31 Aug 2016

Definition of risk location

A risk is located in a European Union or European Economic Area member state if it is:

Insurance
  • A building (and its contents issued under the same policy) situated in that member state.
  • A motor vehicle, ship, yacht or aircraft registered in that member state.
  • A travel policy for four months or less taken out in that member state.

For any other type of insurance (including a life insurance) it is a risk of this member state if the insured is habitually resident in the member state or a business or an organisation if the establishment to which the contract relates is situated in that member state.

Reinsurance

A reinsurance of an insurer located in that member state.

Note: The definition of an Italian risk for premium tax purposes is wider. Taxes and similar charges are imposed on insurance of Italian risks as defined above, and on any insurance of moveable property normally contained in a building in Italy (other than goods in commercial transit). This is the case even if a separate policy covers such contents for the account of a non-resident.
Last updated: 28 Aug 2015

Definition of Italy

Unless otherwise stated the definition of Italy includes Campione D'Italia and Livigno. This Crystal report for Italy does not include San Marino or the Vatican City. Please refer to the separate Crystal reports for San Marino and the Vatican.

For general guidance on identifying the location of a risk please refer to the risk locator.

Last updated: 05 Oct 2015

Compulsory classes

The following classes are compulsory in Italy:
  • Motor third party liability.
  • Power boats, third party liability. 
  • Yachts, third party liability.
  • Hunters, third party liability.
  • Nuclear, third party liability.
  • Healthcare organisations, third party liability and employers' liability.
  • Gas cylinders, third party liability.
  • Mail order, third party liability.
  • Driving schools, third party liability.
  • Aviation liability including passengers and crew.
  • Oil pollution from ships.
  • Operators of winter sports facilities (certain regions), third party liability. 
  • Professional indemnity for all professionals whose activity is governed by a professional body. This includes, but is not limited to, architects, engineers, notaries, accountants and lawyers. 
  • Professional indemnity for insurance brokers and agents.
  • Liability for notaries.
  • Public liability for vessels licensed to carry more than 12 passengers in respect of injury to passengers and damage to their luggage, where the vessel is registered in Italy or is registered in another country and enters a port in Italy. 
  • Hauliers' professional liability (insurance or other evidence of appropriate financial standing).
  • Remotely piloted aerial vehicles.
  • Professional liability for individual healthcare professionals in the private sector and those in the public sector in respect of activities not performed for their employer. 
  • Construction insurance for damage to the works and facilities.
  • Personal accident for lawyers (with effect from 11 October 2017).
  • Liability for tour operators (or a bank guarantee).

There are over 100 types of insurance which are compulsory in Italy. They include types common in other countries such as liability for motor vehicles, power boats, yachts, hunters, oil pollution by ships, nuclear risks, hospitals, gas cylinders, diving schools and aircraft (including passengers and crew), as well as regional requirements such as the liability of ski slope operators in various provinces.

For further details on compulsory classes please contact Lloyd’s Italian office.

Last updated: 25 Apr 2017

Class specific regulations

Motorised yacht and pleasure craft
Last updated: 15 Aug 2017


Routes into Lloyd's

Coverholders

Lloyd's requirements for a coverholder carrying on Italian business on behalf of a Lloyd's managing agent

Binding authority held by a coverholder in Italy
Last updated: 28 Sep 2016

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Binding authority held by a coverholder outside Italy, in another EEA Member State
Last updated: 09 Jun 2015

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Binding authority held by a coverholder outside Italy and outside the EEA
Last updated: 25 Apr 2017

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Reinsurance
Last updated: 28 Sep 2016

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Coverholder co-operation agreement
Last updated: 16 May 2017


Open market correspondents

Open market business via an Italian intermediary

The intermediary must be a registered intermediary in Italy and approved by Lloyd's as an Open Market Correspondent (OMC) handling Italian insurance business. This requirement includes marine business. 

OMC directory for Italy.

Further information regarding the OMC process and access to the application forms.

Last updated: 09 Jun 2015


Open market business via an intermediary outside Italy, dealing with a Lloyd’s broker

The non-Italian intermediary does not require Lloyd’s approval or registration. However, they must operate in accordance with Italian law and regulation.

Last updated: 07 Mar 2014

Reinsurance

Insurance intermediaries do not require registration by Lloyd's as an OMC when only handling Italian reinsurance business.

Any insurance intermediary carrying on reinsurance mediation in Italy must be either registered there or have passporting approval for Italy from its EEA home state regulator.

Last updated: 09 Jun 2015

Intermediary regulation

Registration of intermediaries

Last updated: 15 Jul 2014


Insurance documentation

Insurance documents

Contract certainty applies to general insurance contracts either entered into by a UK regulated insurer (such as Lloyd’s underwriters) or arranged through a UK regulated broker (such as Lloyd’s brokers based in the UK).

Lloyd's has developed Quality Assurance (QA) checks to help the market comply with this requirement.

Further information on contract certainty can be found on the Market Reform website.

Last updated: 03 Oct 2016


Market Reform contract guidance

This guidance on completing a Market Reform Contract (MRC) focuses on tax and regulatory checks.

It provides advice on completion of the Fiscal and Regulatory section, plus completion of headings in other sections relevant to fiscal and regulatory compliance.

The guidance below relates to insurance (ie not reinsurance).
Last updated: 07 Mar 2014


Language of contract

Article 43 of Regulation No. 35 dated 26 May 2010 states “The insurance contract, any document attached to it and the communications during the term of the contract shall be drawn up in Italian or in any other language agreed upon by parties. The above shall in no way compromise the provisions in force in the field of bilingualism in Special-Status regions.”

Last updated: 17 May 2016

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Choice of law

To meet contract certainty requirements, the insurance contract must contain a choice of law clause.
Last updated: 07 Mar 2014


Jurisdiction

To meet contract certainty requirements, the insurance contract must contain a jurisdiction clause.

The Revised Brussels I Regulation 1215/2012/EU applies and determines the jurisdiction applicable.

Insurance of large risks: The underwriter can agree with the insured the jurisdiction that will apply to the contract.

Insurance of mass risks: In the event of a dispute, the rules in the Revised Brussels I Regulation determine the EU member state(s), in which a party can bring an action.

Reinsurance: The underwriter can agree with the reinsured the EU member state whose jurisdiction will apply to the contract.

Last updated: 07 Jan 2015


Service of suit

Insurance

To meet contract certainty requirements the contract must contain a service of suit clause.

Establishment:

The Lloyd's General Representative may be nominated or another party agreed by the lead underwriter. Note that the Italian authorities regard all insurance evidenced by a written contract issued in Italy as establishment business.

Services:

Note that the Lloyd's General Representative, or any permanent presence on the Italian territory, cannot be appointed as nominee.

European service of suit clause LSW487 is available on the Lloyd's Wordings Repository in English or Italian.

Reinsurance

There are no requirements for reinsurance business.

Last updated: 17 May 2016


Lloyd's representation and other contact details

Lloyd's representative

Vittorio Scala
Lloyd’s General Representative for Italy
Corso Garibaldi 86
20121 Milan
Italy

Tel: +39 02 6378 8870
Fax: +39 02 6378 8850
Email: vittorio.scala@lloyds.com

Nicoletta Andreotti
Head of Legal & Compliance
Corso Garibaldi 86
20121 Milano
Italy

Email: nicoletta.andreotti@lloyds.com
Tel: + 39 02 6378 8870
Fax: + 39 02 6378 8850

Claims enquiries
sinistri@lloyds.com
 
General enquiries
informazioni@lloyds.com
servizioclienti@lloyds.com 
 
Mocha enquiries
sistemi@lloyds.com

Doprint enquiries
sistemi@lloyds.com

Last updated: 19 May 2016