Guidelines For Clear And Simple Insurance Policies

I. The Guidelines' approval and IVASS letter to the market

The Italian Insurance Regulator ("IVASS") brought to the insurers' attention the need to simplify insurance contracts and wordings.

Following IVASS suggestion, the Italian Insurers Association ("ANIA"), some Italian Consumers Associations, the Italian Brokers Association (AIBA) and the Italian Antitrust Authority drafted a set of guidelines on the structure and language of insurance policies wording (the "Guidelines").

By letter dated 14 March 2018 (the "IVASS Letter to the market"), IVASS exhorts the insurers to comply with the Guidelines.
According to IVASS Letter to the market, insurers should comply with the Guidelines within the following timeframe: