Informing and advising consumers on  insurance products <ul><li>International Seminar on awareness and education relative ...
Isvap nature <ul><li>Public body </li></ul><ul><li>Set up  in  1982 </li></ul><ul><li>Vested with autonomy in the financia...
Purposes of Insurance Supervision purposes of controls STABILITY SOLVENCY CONSUMERS PROTECTION STABILITY purposes of contr...
Supervised entities <ul><li>Insurance undertakings </li></ul><ul><li>Reinsurance undertakings </li></ul><ul><li>Insurance ...
Recent ISVAP Initiatives in the field of financial education <ul><li>Life assurance: ISVAP Circular 551 of 1 March 2005 “ ...
<ul><li>From the beginning of its activity ISVAP has issued a series of circulars regulating insurance undertaking obligat...
The Objectives of the Circular 551 <ul><li>Enhanced transparency before the conclusion of the contract and during its life...
<ul><li>Information before the conclusion of the contract </li></ul><ul><li>Insurance companies shall draw up an Informati...
1) Enhanced Transparency <ul><li>Information during the term of the contract  </li></ul><ul><li>Regarding with-profit cont...
<ul><li>Information during the term of the contract  </li></ul><ul><li>When dealing with unit and index linked contracts, ...
2) How the consumer may compare Different  Proposals <ul><li>The Circular  551 introduced an obligation for the companies ...
3) Obligation of high professional assistance <ul><li>Rules of conduct </li></ul><ul><ul><li>Insurance undertakings and in...
<ul><li>ISVAP has recently enhanced its website. Among other parts, there is a sub-site dedicated to consumer information ...
<ul><li>In 2004 a practical guide to insurance was published as an information and support tool for policyholders. The gui...
<ul><li>In September 2005 was approved the new “Code of Private Insurance” which is the consolidated text of the Italian i...
<ul><li>Consistently to the Directive, the Italian Insurance Code states that important pre-contractual information requir...
<ul><li>ISVAP keeps the Single Register of insurance and reinsurance intermediaries </li></ul><ul><li>It contains essentia...
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六合彩,香港六合彩

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的偏执,还有很多很多不服输的个性。香港六合彩挑衅地冲香港六合彩笑着,那你现在还不相信爱情吗?

相信。卓远之说得相当直截了当,只要是女人送上门,迭上床。我都会告诉香港六合彩,我相估爱情。

咦?香港六合彩这话是什么意思?

没等车神弄明白,卓远之的身影已经慢慢向香港六合彩压近,香港六合彩用身高的优势占据了香港六合彩大半个身体,一双长而有力的手臂扣住香港六合彩的肩膀,香港六合彩浑身散发着野兽发春的的气味。

来吧!来看看我有多爱你,相信我,我绝对不会让你失望的。我会让你明白,什么是玉树临风,什么是高大威猛,什么是举世无双,什么是天下无敌。来吧!快让我来爱你吧!

原本很正常的形容词从香港六合彩的口中说出来立刻变得猥亵,香港六合彩的话仿佛是一种催眠,让人不寒而栗,车神什么也不想,只想逃。

你想爱就爱,想不爱就拉倒——世上哪有这么便宜的事?

卓远之淫笑起来,别装了,你单恋我这么多年,花了那么多心思。我现在这样做应该正合你心意才对,你该高兴,该觉得兴奋。相信我,经过这次,你会更加爱我,你绝对会离不开我的。

香港六合彩不由分说地倾身上前,轻嗅着车神的颈项,呼出的气息窜过香港六合彩细嫩的脖子。车神像被电击了一般,浑身一麻不由自主地惊叫起来:战野!战野,救我——

等的就是香港六合彩这句呐喊,卓远之抽开身

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六合彩,香港六合彩

  1. 1. Informing and advising consumers on insurance products <ul><li>International Seminar on awareness and education relative to risks and insurance issues </li></ul><ul><li>Istanbul, 13 April 2007 </li></ul><ul><li>Anna Maria Ambroselli </li></ul><ul><li>International Affairs Department </li></ul><ul><li>ISVAP </li></ul>
  2. 2. Isvap nature <ul><li>Public body </li></ul><ul><li>Set up in 1982 </li></ul><ul><li>Vested with autonomy in the financial, accounting, organisation and management field </li></ul>
  3. 3. Purposes of Insurance Supervision purposes of controls STABILITY SOLVENCY CONSUMERS PROTECTION STABILITY purposes of controls ISVAP controls the technical and financial management of supervised entities
  4. 4. Supervised entities <ul><li>Insurance undertakings </li></ul><ul><li>Reinsurance undertakings </li></ul><ul><li>Insurance and reinsurance intermediaries </li></ul>
  5. 5. Recent ISVAP Initiatives in the field of financial education <ul><li>Life assurance: ISVAP Circular 551 of 1 March 2005 “ Disclosure in life assurance contracts ” </li></ul><ul><li>The enhancement of ISVAP’s website: www. isvap .it </li></ul><ul><li>The “ Code of Private Insurance ” (legislative decree n. 209 of 7th September 2005) </li></ul>
  6. 6. <ul><li>From the beginning of its activity ISVAP has issued a series of circulars regulating insurance undertaking obligations in terms of disclosure and transparency in the distribution of life assurance products </li></ul><ul><li>In March 2005, after being submitted to public consultation, ISVAP issued the Circular 551 relating to the disclosure in life assurance contracts which constitutes the consolidated text on transparency for potential policyholders </li></ul>ISVAP Circular 551 of 1 March 2005 “Disclosure in life assurance contracts”
  7. 7. The Objectives of the Circular 551 <ul><li>Enhanced transparency before the conclusion of the contract and during its life </li></ul><ul><li>Possibility for the policyholder to compare different proposals: the introduction of a Summary Profile to present to the consumer for with-profit, unit-linked and index-linked life assurance contracts and contracts designed to implement individual pension plans </li></ul><ul><li>Obligation of high professional assistance: rules of conduct and adequacy of contractual proposals </li></ul><ul><li>*** </li></ul><ul><li>In summary, the current regulation allow the policyholder to have facilitated access to information, make comparisons and fully understand the characteristics of the product offered </li></ul>
  8. 8. <ul><li>Information before the conclusion of the contract </li></ul><ul><li>Insurance companies shall draw up an Information Dossier which insurance intermediaries must deliver to potential policyholders before underwriting a life assurance proposal. </li></ul><ul><li>The Information Dossier shall contain the following documents: </li></ul><ul><li>Summary profile </li></ul><ul><li>Information note </li></ul><ul><li>Insurance Conditions </li></ul><ul><li>Glossary </li></ul><ul><li>Proposal form </li></ul><ul><li>In the glossary companies explain the meaning of technical terms </li></ul>1) Enhanced Transparency
  9. 9. 1) Enhanced Transparency <ul><li>Information during the term of the contract </li></ul><ul><li>Regarding with-profit contracts insurance undertakings must send to the policyholder, in writing, the annual statement of account of his/her insurance position indicating, among other things, the total amount of premiums paid, any unpaid premiums and the results of the non-payment </li></ul>
  10. 10. <ul><li>Information during the term of the contract </li></ul><ul><li>When dealing with unit and index linked contracts, the companies are required: </li></ul><ul><li>to establish a benchmark with which to compare the performance of the internal insurance fund to which the benefits are linked </li></ul><ul><li>to inform the policyholder, in writing, in the event of loss exceeding 30% with respect to the overall amount of the premiums invested </li></ul><ul><li>to publish in daily newspapers and on their internet sites the value of the unit of the internal fund or of the UCITS used to represent the basis for the calculation of benefits in unit linked contracts </li></ul><ul><li>*** </li></ul><ul><li>With regard to these contracts, the competences are being transferred to Consob (the Italian market regulator) which will then issue new regulations </li></ul>1) Enhanced Transparency
  11. 11. 2) How the consumer may compare Different Proposals <ul><li>The Circular 551 introduced an obligation for the companies to present a Summary Profile for with-profit, unit-linked and index-linked life assurance contracts and contracts designed to implement individual pension plans </li></ul><ul><li>The Summary Profile sets out, in a few pages, the essential characteristics of the contract – guarantees, costs and any financial risks – in easily understandable terms for potential policyholders </li></ul>
  12. 12. 3) Obligation of high professional assistance <ul><li>Rules of conduct </li></ul><ul><ul><li>Insurance undertakings and intermediaries must behave with diligence, correctness and transparency towards policyholders in the execution of the contract </li></ul></ul><ul><li>Adequacy of contractual proposals </li></ul><ul><ul><li>Personal characteristics of the consumer (age, employment and family, financial and insurance position, expectations in terms of insurance coverage, duration and financial risks) </li></ul></ul><ul><ul><li>Intermediaries are required to explain to the policyholder, in a clear and easy-to-understand language, the characteristics of the contract proposed analytically illustrating any financial risks connected to the execution of the contract </li></ul></ul>
  13. 13. <ul><li>ISVAP has recently enhanced its website. Among other parts, there is a sub-site dedicated to consumer information that provides a wide range of information about products, providers and regulation. In particular, it contains: </li></ul><ul><li>a guide to life assurance contracts </li></ul><ul><li>a guide to non life insurance contracts </li></ul><ul><li>a guide to health insurance contracts </li></ul><ul><li>These guides describe the main characteristics of life, health and non-life insurance contracts (in particular regarding compulsory motor insurance) and give detailed advice about subscribing insurance products, in a simple and clear language </li></ul><ul><li>F.A.Q. </li></ul><ul><li>How to present any complaints concerning insurance companies or insurance intermediaries </li></ul>The enhancement of ISVAP’s Website
  14. 14. <ul><li>In 2004 a practical guide to insurance was published as an information and support tool for policyholders. The guide illustrates the contents of the guarantees and rules regulating the most common insurance policies (motor vehicle liability, life and pension plans) </li></ul><ul><li>The guide was distributed to the general public at first as a supplement to one of the major national newspapers and afterwards it was reprinted and distributed by ISVAP upon request </li></ul>The enhancement of ISVAP’s Website
  15. 15. <ul><li>In September 2005 was approved the new “Code of Private Insurance” which is the consolidated text of the Italian insurance legislation (legislative decree n. 209 of 7th September 2005). It became effective on 1 January 2006 </li></ul><ul><li>The “Code of Private Insurance” aims, among other things, to simplify insurance regulation </li></ul><ul><li>The Insurance Code also contains the provisions implementing the Insurance Mediation Directive (2002/92/EC). These provisions were made effective with the issue of ISVAP regulation n. 5 of 16 October 2006 </li></ul>The Code of Private Insurance
  16. 16. <ul><li>Consistently to the Directive, the Italian Insurance Code states that important pre-contractual information requirements must be given to the consumer by insurance intermediaries </li></ul><ul><li>In particular, prior to the conclusion of any specific contract, insurance intermediaries are required to assess the demands and needs of the customer and specify the reasons for any advice given to that customer on a given insurance product </li></ul><ul><li>Insurance and reinsurance intermediaries are subject to the fulfilment of strict professional requirements </li></ul>The Code of Private Insurance The insurance and reinsurance intermediaries
  17. 17. <ul><li>ISVAP keeps the Single Register of insurance and reinsurance intermediaries </li></ul><ul><li>It contains essential data about persons acting as insurance and reinsurance intermediaries on the Italian territory having their residence or head office in Italy </li></ul><ul><li>The register has been available on ISVAP website since 1 February 2007 </li></ul><ul><li>According to such regulations the carrying out of the mediation activity is reserved solely to persons enrolled in the Register </li></ul><ul><li>For the protection of consumers the Register provides a profile of any persons carrying out the mediation activity with all the information in accordance with the CEIOPS Luxembourg Protocol </li></ul>The Code of Private Insurance The register of intermediaries

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