The Assessment of Sustainability in Insurance Activity: Corporate and Products Governance. The Perspective of the European Union and the Effects on Italian Insurance Regulations

The Author examines the European legislation regulating sustainability risk, sustainability factors, and sustainability preferences; this legislation is embedded in the existing rules concerning the governance of insurance and reinsurance, the control and product governance requirements for insurance undertakings and distributors of insurance products and the rules of conduct and advice on insurance based-investment products. The main purpose of this research is to examine whether the legislator's choice to simply integrate the existing regulations rather than not to introduce an ad hoc regulation has effectively raised awareness of the importance of insurance and reinsurance undertakings.