GRI

President of the Republic sanctions Insurance Contract Law

News Financial services Law & Policy Updates
Date: 9th Dec, 2024 Source: Superintendence of Private Insurance (Superintendência de Seguros Privados – SUSEP) Country: Brazil Original Source

Brief

"On December 09, 2024, the President of the Republic sanctioned the Project of Law nº 2597/2024, known as the Legal Framework for Insurance. This law adopts a dual model, combining a Law of Insurance Contract with regulatory authority oversight, aligning Brazil with countries like England, Germany, Belgium, UK, and Japan that have reformed their insurance laws to boost economic growth in the sector."

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Superintendence of Private Insurance (Superintendência de Seguros Privados – SUSEP)

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