The Italian Institute for Insurance Supervision (IVASS) issued a warning after being notified of a counterfeit surety bond policy purportedly issued by Fidelis Insurance Ireland Designated Activity Company, which the insurer has disowned. Fidelis Insurance Ireland DAC is an Irish insurance undertaking supervised by the Central Bank of Ireland and authorised to operate in Italy under the freedom to provide services in various non-life lines including class 15 (surety). The firm has stated that it does not issue surety bonds for participants in public procurement procedures. IVASS advised consumers to exercise caution and to verify, before paying any premium, that quotes and contracts relate to duly authorised insurers and intermediaries by checking IVASS’s online registers and lists, including admitted insurers, authorised surety providers and policy verification methods, the Register of Insurance Intermediaries (RUI) and EU intermediary list, official supervised websites, and IVASS alerts on counterfeiting, unauthorised firms and non-compliant websites.
Italian Institute for Insurance Supervision (IVASS) 2025-12-23
Italian Institute for Insurance Supervision warns of a counterfeit surety bond policy in the name of Fidelis Insurance Ireland DAC
The Italian Institute for Insurance Supervision (IVASS) issued a warning regarding a counterfeit surety bond policy falsely attributed to Fidelis Insurance Ireland DAC, which the company has disowned. IVASS advises consumers to verify the legitimacy of insurers and intermediaries through its online resources before making any payments.