Istituto per la Vigilanza sulle Assicurazioni
The IVASS - Istituto per la Vigilanza sulle Assicurazioni ( Eng. "Institute for the Supervision of Insurance") - is the Italian insurance supervisory authority . On January 1, 2013, she took over all tasks of the predecessor authority ISVAP. The IVASS is subject to the supervision of the Banca d'Italia , which in addition to its role as the central bank is also responsible for banking supervision . The IVASS headquarters are in the Palazzo Volpi on the Quirinal in Rome .
Tasks and organization
Companies wishing to conduct insurance business in Italy usually require a permit from the IVASS. The institute is in particular responsible for the operational, financial and legal monitoring of insurance companies and insurance agents. The IVASS monitors the insurance market and prepares annual reports for the Italian Ministry of Economic Affairs on the most important developments. Consumers can submit complaints against insurers to the IVASS .
In contrast to Germany and some other countries, there is no centralized financial market supervision in Italy . For the supervision of pension funds to finance the company pension scheme which is Commissione di vigilanza sui fondi pensione (COVIP) ( "Supervisory Commission for the Pension Fund") responsible. Banking supervision is the responsibility of the Banca d'Italia , the stock exchange supervision is carried out by Consob .
The IVASS is an independent supervisory and regulatory authority headed by a president . He has also been General Manager of Banca d'Italia since 2013 . The institute has around 350 employees.
history
The previous authority ISVAP ( Istituto per la vigilanza sulle assicurazioni private e di interests collettivo - dt. "Institute for the supervision of private insurance and insurance of public interest") was founded in 1982. In the course of the spending review of the Monti government in July 2012, it became known that the ISVAP and the COVIP are to be merged into a new authority called IVARP (Istituto di vigilanza sulle assicurazioni e sul risparmio previdenziale) . With the legislative implementation, the merger was canceled, the successor authority of ISVAP is now called IVASS (Istituto per la Vigilanza sulle Assicurazioni) . The implementation, which brought banking and insurance supervision closer together, was completed on January 1, 2013.
See also
Web links
Coordinates: 41 ° 54 ′ 6.5 ″ N , 12 ° 29 ′ 25.3 ″ E