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IVASS 38 Implementation Costs for Chemical & Pharmaceutical | ComplyDev

IVASS 38. Corporate governance system for insurance undertakings Competent Authority: IVASS - Institute for the Supervision of Insurance. Deadline: Ongoing compliance

Last updated: 13/03/2026

Key Points

  • Risk management system (including ICT)
  • Key control functions
  • Outsourcing policies
  • Reporting to the Board of Directors
  • DORA compliance effective January 17, 2025

What is IVASS 38 and how does it apply to Chemical & Pharmaceutical?

IVASS 38. Corporate governance system for insurance undertakings Competent Authority: IVASS - Institute for the Supervision of Insurance. Legal Basis: IVASS Regulation No. 38 of July 3, 2018. Deadline: Ongoing compliance

Who in the Chemical & Pharmaceutical sector must comply with IVASS 38?

IVASS 38. Chemical, pharmaceutical and biotech industry 50-5000 employees. For Medium enterprises (50–249 employees) in the Chemical & Pharmaceutical sector, IVASS 38 compliance requires specific attention to: Key Requirements: Risk management system (including ICT); Key control functions; Outsourcing policies.

Penalties for non-compliance with IVASS 38

Penalties: Administrative penalties from IVASS. Important: The IVASS 38 compliance deadline is approaching. Do not wait to start your assessment.

How to start your IVASS 38 compliance journey

Check your IVASS 38 compliance for free. ComplyDev's AI-powered assessment analyses your Chemical & Pharmaceutical company against 111+ EU regulations in 20 minutes — no registration, no credit card. Key Requirements: Risk management system (including ICT); Key control functions; Outsourcing policies.

Sector Advice

  • Check your IVASS 38 compliance for free. ComplyDev's AI-powered assessment analyses your Chemical & Pharmaceutical company against 111+ EU regulations in 20 minutes — no registration, no credit card.
  • For Medium enterprises (50–249 employees) in the Chemical & Pharmaceutical sector, IVASS 38 compliance requires specific attention to:
  • Implementation Costs: IVASS - Institute for the Supervision of Insurance. Deadline: Ongoing compliance.

Frequently Asked Questions

IVASS 38 Key Requirements
Risk management system (including ICT); Key control functions; Outsourcing policies; Reporting to the Board of Directors; DORA compliance effective January 17, 2025
IVASS 38 Penalties
Administrative penalties from IVASS
IVASS 38 - Chemical & Pharmaceutical
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