The Italian Institute for Insurance Supervision (IVASS) issued a warning after receiving reports of counterfeit surety guarantees purportedly issued in the names of CNP Assurances S.A. and CNP Caution S.A., both part of the CNP Group, which have disowned the documents. IVASS noted that neither insurer is authorised to operate in Italy in class 15 (Surety). To verify the validity of surety bond policies, IVASS recommended consulting the Register of Insurance Companies and Groups (RIGA), which provides the website or certified email address through which policy authenticity can be confirmed with the relevant insurer, and checking IVASS’s dedicated list of insurers authorised for the surety class and the related online verification methods. IVASS also urged consumers to exercise caution when assessing insurance offers and to confirm, before paying any premium, that quotes and contracts relate to duly authorised companies and intermediaries by using the insurer authorisation lists, the Single Register of Insurance Intermediaries (RUI) and the EU intermediaries list, the list of IVASS-supervised firms’ websites and RUI-registered intermediaries’ sites, and IVASS alerts on counterfeiting, unauthorised firms and non-compliant websites.
Italian Institute for Insurance Supervision (IVASS) 2025-01-13
Italian Institute for Insurance Supervision flags counterfeit surety guarantees using CNP Assurances and CNP Caution names
The Italian Institute for Insurance Supervision (IVASS) warned about counterfeit surety guarantees falsely attributed to CNP Assurances S.A. and CNP Caution S.A., which are not authorised to operate in Italy in class 15 (Surety). IVASS advised verifying surety bond policies through the Register of Insurance Companies and Groups and urged consumers to confirm the legitimacy of insurance offers using authorised company lists and intermediary registers.