La trasparenza nella distribuzione assicurativa: qualche considerazione sul nuovo schema di decreto legislativo attuativo della Direttiva (UE) 2016/97

The article analyzes the transparency rules introduced by the Insurance Distribution Directive (EU) 2016/97 and by the draft of legislative decree implementing the directive, recently approved by the Italian Government. Transparency is not only a key factor for increasing consumer protection in the insurance market but also for raising the level of competitiveness in the economic system. This point has been well underlined by the Governor of the Bank of Italy in his speech at ASSIOM FOREX congress in Verona: “Increasing transparency towards customers must be viewed not as a legal or regulatory requirement but rather as essential to becoming more competitive”. The article focuses on the Italian draft of legislative decree and on the specific rules which oblige insurance distributors to act honestly, fairly and professionally and to give clear and complete information in accordance with the best interests of their customers. In addition to that, the draft of legislative decree introduces Alternative Despute Resolution (ADR) procedures, to make the transparency rules more effective and to reduce judicial litigation between insurance distributors and customers. Finally, the article emphasizes the relevance of financial and insurance education in order to make customers aware of their rights and obligations and to enable them to make informed and conscious choices.