Italian Institute for Insurance Supervision warns of a counterfeit surety bond policy in the name of Swiss Re International S.E.

The Italian Institute for Insurance Supervision (IVASS) issued a public warning after receiving a report of a counterfeit surety bond (fideiussoria) policy made out to Swiss Re International S.E., which the insurer has disowned. IVASS noted that the policy contains PEC and email contact details that are not attributable to the company and recalled that it has previously flagged the marketing in Italy of counterfeit surety bond policies and drafts in Swiss Re International S.E.’s name. The supervisor also reiterated that Swiss Re International S.E. is a Luxembourg-based insurer supervised by Luxembourg’s Commissariat aux Assurances (CAA) and authorised to operate in Italy under both freedom of services and establishment, including in non-life class 15 (surety). IVASS recommended verifying that quotes and contracts are linked to duly authorised insurers and intermediaries by consulting IVASS’s online registers and lists, including the list of firms authorised for surety business and the related telematic policy verification guidance.