Federpesca receives clarification from MIMIT
Federpesca welcomes with great satisfaction the official clarification provided by the Ministry of Business and Made in Italy (MIMIT) regarding the mandatory catastrophe insurance introduced by Law No. 213 of December 30, 2023.
Following several discussions and in response to a specific question raised by Federpesca, MIMIT has published an FAQ on its institutional website, clarifying that vessels intended for professional fishing are not subject to the insurance requirement established by the legislation.
The clarification fully reflects the position advocated by Federpesca in recent months and is based on the correct legal and accounting classification of fishing vessels: fishing vessels are not among the capital goods identified by the Civil Code as prerequisites for the application of the insurance requirement.
"It has finally been clarified that professional fishing vessels do not qualify for the insurance requirement introduced by the 2024 budget law, thus avoiding an unjustified financial burden for businesses in the sector. This is a particularly significant result for Italian fishing, the fruit of months of ongoing discussion and constructive dialogue with the relevant Ministries, whom we thank for their attention and which has led to an important and long-awaited regulatory clarification for businesses," stated Francesca Biondo, Director of Federpesca.
Federpesca also clarifies that the exclusion applies exclusively to the "vessel" asset, while any assets classified under item B), numbers 1), 2), and 3) of Article 2424 of the Italian Civil Code, if owned by the fishing company, remain subject to the insurance requirement.
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