The Italian Institute for Insurance Supervision (IVASS) issued a warning after being alerted to the marketing of a surety bond guarantee policy issued in the name of Allied Re Corporation Ltd. IVASS states that Allied Re Corporation Ltd is not authorised to carry on insurance business in Italy and is not an insurance undertaking, meaning it cannot issue surety bond policies. IVASS recommends exercising caution when assessing insurance offers and advises consumers to verify, before paying any premium, that quotations and contracts relate to duly authorised undertakings and intermediaries. It points to checks available on its website, including lists of Italian and foreign insurers admitted to operate in Italy, the list of undertakings authorised for the surety (cauzione) line with instructions for online policy verification, the Register of Insurance Intermediaries (RUI) and the list of European Union intermediaries, the list of supervised firms’ and registered intermediaries’ websites, and its warnings covering counterfeiting cases, unauthorised firms and non-compliant websites.
Italian Institute for Insurance Supervision (IVASS) 2025-12-01
Italian Institute for Insurance Supervision warns that Allied Re Corporation Ltd is not authorised to issue surety bond policies in Italy
The Italian Institute for Insurance Supervision (IVASS) has issued a warning regarding the marketing of surety bond guarantee policies by Allied Re Corporation Ltd, which is not authorised to conduct insurance business in Italy. IVASS advises consumers to verify the legitimacy of insurance offers and intermediaries through checks available on its website, including lists of authorised insurers and intermediaries.