The Italian Institute for Insurance Supervision (IVASS) issued a consumer warning after becoming aware of a counterfeit draft surety bond policy presented in the name of KLPP Insurance & Reinsurance Company Ltd, which the insurer has disowned. KLPP Insurance & Reinsurance Company Ltd is a Cyprus-based insurer supervised by the home authority, the Insurance Companies Control Service (ICCS), and is authorised to operate in Italy under the freedom to provide services across various non-life lines, including class 15 (surety). IVASS urged consumers to exercise caution when assessing insurance offers and to verify, before paying any premium, that quotes and contracts are attributable to duly authorised insurers and intermediaries by checking the relevant IVASS website lists and registers, including authorised insurers, surety insurers with online policy verification methods, and the registers of intermediaries and related warnings on counterfeiting and unauthorised activity.
Italian Institute for Insurance Supervision (IVASS) 2026-04-15
Italian Institute for Insurance Supervision warns of a counterfeit KLPP Insurance surety bond policy draft
The Italian Institute for Insurance Supervision (IVASS) issued a consumer warning after detecting a counterfeit draft surety bond policy falsely presented in the name of KLPP Insurance & Reinsurance Company Ltd, which the insurer has disowned. IVASS urged consumers to verify that insurance quotes and contracts are attributable to duly authorised insurers and intermediaries by consulting its online lists and registers, including those on surety insurers, intermediaries, and warnings on counterfeiting.