Article 24 CAP: Business under the freedom of services
1. The taking up of life or non-life business under the freedom to provide services in the territory of the Italian Republic, by an undertaking with head office in another member State, is subject to the notification to ISVAP, by the supervisory authority of that State, of the information and conditions required under Community provisions. If the undertaking intends to cover risks relating to compulsory insurance against civil liability in respect of the use of motor vehicles and ships, the notification shall include the indication of the name and address of the claims representative and a declaration that it has become a member of the Ufficio centrale italiano and of the Fondo di garanzia per le vittime della strada.
2. The undertaking may begin its activity as soon as ISVAP acknowledges receipt of the notification by the home supervisory authority pursuant to paragraph 1.
3. The undertaking shall inform ISVAP, through the supervisory authority of the home member State, of any change it intends to make to the notification for the taking up of business under the freedom of services in the territory of the Italian Republic.
4. As regards the pursuit of business under the freedom to provide services in the territory of the Italian Republic, the undertaking may not use branches, agencies or any other permanent presence on the Italian territory, even if that presence consists merely of an office managed by the undertaking’s own staff or by a person who is independent but has permanent authority to act for the undertaking.
