NU Online News Service, April 27, 11:43 a.m. EST

WASHINGTON—Italian-insurance agents and brokers are seeking to break the restrictions placed on them by their domestic carriers and welcome U.S. carriers’ business and U.S. independent-agent practices to their shore.

Claudia Bortolani, an attorney with Legal Grounds in Rome, Italy, says members of the Italian-insurance-agents association (Sindacato Nazionale Agenti di assicurazione-SNA), which she represents, attended the Independent Insurance Agents & Brokers of America Legislative Conference and Convention this week in an effort to form relationships with insurers here to serve an underserved market.

She says despite regulatory mandates aimed at opening up the market for Italian agents to work with more carriers, company pressure and mergers and acquisitions have kept agents from expanding their market.

There are 153 insurers in Italy—which is the largest insurance market in Europe, according to SNA—dealing in property and casualty and life and health insurance.

The nation’s entire market is dominated by five carriers, Bortolani says, and those companies keep a tight rein over distribution, preventing competition.

Traditionally, says Bortolani, Italians have not embraced insurance. But she says a younger generation of potential buyers has a greater understanding of the value of insurance and the demand is growing as the Stae-aid benefits are being cut because of the economic crises.

The more than 7,500 SNA members—represented at the IIABA’s meeting by Giorgia Pilligrini, vice president of the association, and Roberto Soldato, a member of the board of directors—are not only seeking U.S. insurers to do business with, but also the knowledge of how to work with multiple agencies.

“We have the insight to explain how U.S. insurers can set-up in Italy,” says Bortolani. “We want to establish an ongoing relationship with the IIABA and start the process of reciprocal exchange of information. We want to the culture of the IIABA in Italy.”

Special Reports /

Italian Brokers Seek Business, Advice, from U.S. Carriers and Agents

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