The new legal framework of insurance contracts under Law 15040/24 implies a mission of standardizing the industry as a whole, besides improving contractual transparency among insurers and insured, through the clear assignment of the parties’ responsibilities, in such a way that covers the entire ecosystem of the insurance industry, including players such as brokers and other parties involved.
The New Law also provided for the conditions of validity and effectiveness of insurance contracts. Within the scope of reinsurance, it established rules targeted at ensuring greater industry consistency, and certainty for the insured parties.
The rules pertaining to the occurrence of a claim became clearer and more transparent, contributing to greater efficiency in the regulation process. For insurance against damage, the Law sets forth general guidelines, covering, for instance, liability insurance.
In addition to mandatory insurance having been regulated, there are new provisions on the statute of limitations, with final and provisional provisions pertaining to the application of the law, and the resolution of any regulatory conflicts.
Thus, the impact of the law on the insurance market will be significant, as it promises regulatory streamlining, greater clarity in contracts and legal certainty, meanwhile aiming to strengthen consumer protection.
Interview available in: https://lexlegal.com.br/sancionado-o-marco-legal-dos-seguros/
Autor: Gaya Lehn Schneider Paulino • email: gaya@ernestoborges.com.br • Tel.: +55 67 3389 0123
