Italian Institute for Insurance Supervision warns of counterfeit surety policies issued in the name of ALM. Brand Forsikring A/S

The Italian Institute for Insurance Supervision (IVASS) issued an alert after receiving reports of counterfeit surety policies made out to ALM. Brand Forsikring A/S, which the insurer has repudiated. ALM. Brand Forsikring A/S is a Denmark-based insurer supervised by the Danish Financial Supervisory Authority and authorised to operate in Italy under freedom of services in several non-life lines, including class 15 (Surety). IVASS urged market participants and consumers to exercise caution when assessing insurance offers and to verify, before paying any premium, that quotations and contracts relate to duly authorised insurers and intermediaries. It pointed to the checks available on its website, including lists of undertakings authorised to operate in Italy, the list of firms authorised for the surety line (with instructions for online policy verification), registers of insurance intermediaries (including EU intermediaries), and its warnings on counterfeiting, unauthorised companies and non-compliant websites.