We understand that the insurance sector requires highly specialised advice on very technical aspects (inc. regulatory and tax matters).
Clients are assured practical, precise advice – even when time is of the essence – be it to face a challenge or grasp an opportunity, thanks to the myriad of assignments we have handled over the years.
The advent of insurtech has brought new opportunities and challenges. One challenge is that the establishment of standards is not always apace with this fast-evolving sector. But the formulation of complex and innovative contracts in areas lacking standards is just one of the many areas where the team’s know-how and passion speaks for itself.
The team is also well-versed in what it takes to develop (and restructure) and distribute insurance and financial insurance products in today’s digital world. Handling the contractual and regulatory matters related to developing and implementing new distribution structures (inc. through new marketing channels) is all in a day’s work.
When it comes to bancassurance agreements, both banks and insurers can rely on the team’s expertise and experience to make the creation or restructuring of these agreements plain sailing – even when they are anything but plain vanilla.
In terms of litigation, the team is adept at handling – and winning – the most complex of cases and is regularly called on to act as party-appointed expert.
Understanding the inner workings of the competent authorities is fundamental to the development of any initiative and the handling of any issue. That is why we invest a great deal of time and effort in maintaining clear and direct communication channels with them all: Institute for the Supervision of Insurance (IVASS), Consob, and Bank of Italy. In fact, the team has handled various cases entailing a review of the constitutionality of provisions of the Italian Private Insurance Code.
And in terms of the development of the insurance sector as a whole, we are privileged to have assisted the National Association of Insurance Companies (ANIA) with the revision and adaptation of the national agreement between insurance companies concerning direct compensation (known as the CARD).
How we help insurers and brokers:
- guidance on extraordinary transactions
- advice on regulatory matters (inc. regarding technical reserves and insurance compliance)
- assistance with the transfer and acquisition of portfolios
- analysis and review of governance structures
- negotiation and implementation of insurance product distribution structures and partnerships
- structuring and drafting of documentation concerning Solvency I and II bond issues
- advice on insurance brokerage profiles
- in- and out-of-court representation in complex claims, including assistance with the related reinsurance and retrocession implications
- drafting of documentation concerning derivative products (including those subject to the European Market Infrastructure Regulation) and investment funds
- drafting of documentation relating to traditional life insurance products, financial insurance products in lines III and V, multi-line and pension products and property damage insurance, credit insurance and guarantees
- drafting of documentation relating to reinsurance agreements (inc. reinsurance treaties – Lloyd’s)
- advice on legal issues relating to insurable risks
- drafting of contractual documentation relating to “large risks” policies
- assistance with the structuring of tailor-made insurance products to cover insurance companies’ technical reserves
- assistance with antitrust issues
- advice on the challenges raised by insurtech, both in structuring and distributing products and in negotiating and establishing distribution partnerships
Here’s what sets us apart:
- We boast an unrivalled wealth of experience across the board (M&A transactions, corporate governance, JVs, strategic and commercial partnerships, regulatory and antitrust matters, etc.)
- We understand the inner working of, and are adept at dealing with, the Italian authorities, the Minister of Economic Development and the Minister of Infrastructure and Transport, the European Commission, the European Insurance and Occupational Pensions Authority (EIOPA) and the ECB, to name but a few.