Insights

With a very recent ruling (sentence no. 2989 of February 1, 2022), the Court of Cassation validated, for the first time, the market’s prevailing orientation according to which the regulations provided for life policies linked to the granting of real estate laons and consumer credit, introduced by art. 28 of Law Decree no. 1/2012 as converted into law (the so-called CrescItalia Decree), and the consequent ISVAP Regulation no. 40 of 2012, which implemented such regulation by identifying the minimum contents that such life policies must necessarily comply with to ensure consumer protection, apply not only to the cases in which the granting of the loan is a formal condition for the conclusion of a life insurance contract, but also to the cases in which the conclusion of a life insurance contract is required, imposed, or speciously induced by the bank on a simply factual basis.