The Italian Institute for Insurance Supervision (IVASS) has warned that forged surety policies bearing the name of SBB Insurance Aktiengesellschaft have been reported. The insurer has disowned the policies and confirmed that email addresses used in connection with them do not belong to the company. SBB Insurance is a Liechtenstein based insurer supervised by the Financial Market Authority and authorized to operate in Italy under the freedom to provide services, including in class 15 surety insurance. However, it operates as a captive insurer for its corporate group and does not offer policies to third parties in Italy. IVASS advised consumers to verify insurers, intermediaries and surety policies through its official registers and verification resources before paying premiums.
Italian Institute for Insurance Supervision warns of forged surety policies bearing SBB Insurance’s name
The Italian Institute for Insurance Supervision has warned of forged surety policies bearing the name of SBB Insurance Aktiengesellschaft. The Liechtenstein based captive insurer does not offer policies to third parties in Italy and has disowned the policies and associated email addresses. Consumers should verify providers and policies through IVASS’s official resources before paying premiums.