CGPA Europe Italy organized CESIA’s annual meeting — which was held through a videoconference and gathered more than 300 attendees.

CESIA is an ins­ti­tu­tion crea­ted by CGPA Europe to pro­mote the pre­ven­tion of pro­fes­sio­nal indem­ni­ty risks. It is inten­ded to bring toge­ther inter­me­dia­ries, insu­rance com­pa­nies, but also Ita­lian regu­la­tors, uni­ver­si­ty pro­fes­sors and magis­trates around the issue of good pro­fes­sio­nal prac­tice and the pro­fes­sio­nal indem­ni­ty of insu­rance inter­me­dia­ries. CESIA’s work, which is the sub­ject of public mee­tings and publi­ca­tions, has led through the years to the emer­gence of prac­ti­cal solu­tions desi­gned to reduce the risk of claims and contri­bute to streng­the­ning the pro­fes­sio­na­lism of intermediaries.

This new CESIA annual mee­ting was focu­sed on the imple­men­ta­tion of all the pro­duct over­sight and gover­nance (POG) requi­re­ments issued by IVASS (Ita­lian Ins­ti­tute for Insu­rance Super­vi­sion) on August 4th, 2020, as contai­ned in the IDD. These new mea­sures, in line with the pri­ma­ry Ita­lian legal framework :

  • iden­ti­fy the roles and res­pon­si­bi­li­ties of the enti­ties invol­ved in the dis­tri­bu­tion pro­cess of insu­rance products ;
  • iden­ti­fy the ele­ments to be taken into account regar­ding the iden­ti­fi­ca­tion of the tar­get market ;
  • define infor­ma­tion flows bet­ween insu­rers and distributors ;
  • regu­late the dis­tri­bu­tion mecha­nisms of insu­rance products ;
  • and pres­cribe spe­ci­fic control obli­ga­tions on the part of the enti­ty res­pon­sible for insu­rance dis­tri­bu­tion for dis­tri­bu­tors of insu­rance pro­ducts regis­te­red in Sec­tions A (agents), B (bro­kers) and F (ancil­la­ry insu­rance inter­me­dia­ries) of the Single Regis­ter of intermediaries.

This pre­sen­ta­tion, made by Ita­lo Par­ten­za, Foun­der at ITC Law, focu­sed on the conse­quences of this new regu­la­tion for insu­rance inter­me­dia­ries, and the changes that this will bring about for their profession.

The video­con­fe­rence ended with a round table around the expec­ted beha­viour of insu­rance Inter­me­dia­ries faced to the new regu­la­tion, mode­ra­ted by Mas­si­mo Michaud and with the par­ti­ci­pa­tion of Ele­na Bel­liz­zi (IVASS), Nidia Bignot­ti (Foun­der BdA Bignot­ti e d’Ac­qua­rone), Sara Lan­di­ni, and Pier­pao­lo Mara­no (mem­bers of the CESIA scien­ti­fic committee).

This annual mee­ting, crea­ted by CGPA Europe Ita­ly in 2015, has always been a great suc­cess in the Ita­lian insu­rance sec­tor, and contri­butes eve­ry year to the evo­lu­tion of thin­king around the Ita­lian inter­me­dia­tion sec­tor, thanks to the rich inter­ven­tions of its eminent participants.

For more infor­ma­tion, click here (Ita­lian ver­sion):