Insurance in San Marino

San Marino has a formal insurance market with local and foreign providers. The market included 49 authorised insurers according to a BCSM report from March 2026. Many insurers operate without a local branch and distribute products through authorised insurance intermediaries. Foreign insurers may also provide services without establishing a local office, but their authorisation and home-country supervision remain relevant. The Banca Centrale della Repubblica di San Marino (BCSM), through its supervisory coordination function, handles authorisation, registers, information and inspection supervision, solvency supervision, conduct supervision and sanctions. The Registro dei Soggetti Autorizzati lists authorised firms. The Registro degli Intermediari Assicurativi e Riassicurativi lists authorised intermediaries, including agents, brokers and certain financial firms. A provider's presence in a foreign register does not by itself prove that it may distribute insurance in San Marino. Statutory protection is mainly administered by the Istituto per la Sicurezza Sociale (ISS), which is not a private insurer. Its insurance-related functions include old-age pensions, disability, sickness, maternity, unemployment, family allowances, temporary incapacity for work and work accidents or occupational diseases. Access generally follows employment or self-employment status, registration and payment of statutory contributions. Contribution rates, qualifying periods, waiting periods, exceptions and benefits depend on the applicable legislation and the person's status and income. Employers must arrange the statutory protection for work accidents and occupational diseases under Legge 7.2.1939 n. 2. They must complete registration, wage and contribution reporting and notify ISS of a work accident using the required form within two days after learning of it. A fatal accident must be reported immediately. Medical records and employer information support the report. A private liability or accident policy can add protection but does not replace the statutory system. Motor third-party liability insurance, known locally as RCA, is compulsory for vehicles that are registered or used on the road under Legge 31.5.1971 n. 21, as amended including by Legge 18.3.2008 n. 48. The owner or user must maintain active cover and provide the required evidence for registration and road use. Minimum limits, sanctions and notification periods depend on the current law and policy. Comprehensive damage, theft, fire and assistance cover are optional contractual additions. For travel across borders, check the policy's territory, claims representative and international proof of insurance. Private insurance products can cover life, non-life risks, RCA, fire, theft, other property damage, personal liability, accidents, illness, the home, buildings, travel and disability. San Marino has no generally evidenced legal duty to maintain home contents, building, travel, private health, life or private disability insurance. A landlord, lender or contract may still require particular cover. Such a contractual requirement is different from a general statutory obligation. For property insurance, distinguish the owner's building interests, a tenant's contents and a lender's security interest. Check the insured object, sums insured, underinsurance rules, deductible, exclusions, limits and territorial scope. A household policy may include fire, water damage, theft, natural events or family liability, but the actual protection comes from the wording of the policy. Private health, accident, life and disability policies supplement rather than replace ISS protection. Health policies may include waiting periods, health questions, pre-existing-condition exclusions, reimbursement rules, provider networks and emergency or foreign-treatment limits. Life policies require close attention to beneficiaries, duration, premium changes, surrender value and cancellation rules. A sound purchase process starts by defining the risk and checking the BCSM registers. Confirm the insurer's authorisation, the intermediary's status, the permitted business scope, the insurer's home-country supervisor and the distribution channel. Read the product information document, the life-insurance information document where applicable, the policy wording and the schedule. Compare the premium, taxes, fees, intermediary remuneration, instalment charges, limits, deductible, exclusions, duration, payment method, renewal and cancellation terms. Provide complete and truthful information about the risk. Keep the offer, accepted application, policy, proof of cover and payment records. An offer or oral assurance does not create cover unless the insurer has accepted the risk and the effective policy period has begun. The policyholder must pay premiums and follow the policy's notification, cooperation, loss-prevention and claim deadlines. A breach, late payment or exclusion can reduce or remove a payment. After a loss, notify the insurer or assistance service without delay according to the policy. For a vehicle incident, record the accident and police details, the other parties, photographs, witnesses and any international documents. For personal or property losses, retain invoices, medical records, expert reports and proof of ownership or loss. Do not admit liability or accept a settlement before the coverage and consequences have been assessed. The insurer examines coverage, causation, exclusions and the amount of loss and should provide a written decision with reasons. A complaint normally starts with the insurer or intermediary through the channel stated in the policy. The BCSM accepts customer or consumer-organisation complaints and reports concerning supervised insurers and intermediaries. BCSM supervision does not automatically decide a private claim or order payment. Contractual dispute procedures, the courts of San Marino and, for cross-border services, the relevant home-country supervisor and complaint process may also matter. San Marino does not appear to have a separate municipal insurance branch; ISS, statutory work-accident protection, RCA and the BCSM-regulated private market perform the relevant functions. Changing or ending a policy depends on the wording and applicable law. Check the notice period, contract term, automatic renewal, premium changes, non-payment rules and special cancellation rights. Secure acceptance and the start of replacement cover before cancelling the old policy. Never allow RCA cover to lapse while the vehicle remains subject to the compulsory insurance requirement. When switching, compare the territorial scope, waiting periods, exclusions, previous claims, bonus or claims history and transfer of relevant data. Send cancellation in writing and keep proof of receipt and confirmation. Private premiums vary with the risk, limits, deductible, age, health, vehicle, claims history and territory, while ISS contributions follow statutory status- and income-based rules.