02083cas a2200241 a 4500 AALejournalIMF021151 230101c9999 xx r poo 0 0eng d 5.00 USD 9781513552149 1934-7685 BD-DhAAL BD-DhAAL International Monetary Fund. Monetary and Capital Markets Department. Italy : Financial Sector Assessment Program-Technical Note-Insurance Sector Regulation and Supervision. Washington, D.C. : International Monetary Fund, 2020. 1 online resource (56 pages) IMF Staff Country Reports <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This technical note (TN) provides an update and an assessment of the supervisory framework and practices for the Italian insurance sector since the last assessment concluded in 2013. The mission conducted a target review focusing on the implementation of Solvency II, the financial resilience of insurers, the effectiveness of supervision, and previously identified weaknesses without a full assessment of Italy's observance with the International Association of Insurance Supervisors (IAIS) Insurance Core Principles (ICPs). Implementation of the European Union (EU) Solvency II Directive in 2016 has significantly strengthened regulation and supervision since the last FSAP, introducing risk-based capital standards, comprehensive insurance group supervision and new requirements on governance, risk management and controls. The supervision of intermediaries has also been strengthened in line with the EU Insurance Distribution Directive in 2018. Mode of access: Internet IMF Staff Country Reports; Country Report ; No. 2020/233 Full text available on IMF http://elibrary.imf.org/view/journals/002/2020/233/002.2020.issue-233-en.xml IMF e-Library