Santos Bevilaqua Newsletter – May 2018

Author:Santos Bevilaqua Advogados
Profession:Santos Bevilaqua Advogados
 
FREE EXCERPT

INSURANCE NSURANCE AND OPEN SUPPLEMENTARY SOCIAL SECURITY

1) BILL No. 3139/2015

The House of Representatives approved Law no. 3139/2015, as a substitute, that regulates associations and cooperatives that offer vehicle protection. If no objection is presented, the bill will be sent to the Senate, which may approve it in full, and then, it will be submitted to the President for sanction, or may modify it, in which event the bill will be sent back to House of Representatives to be voted.

The bill was proposed by Federal Representative Lucas Vergilio (Solidarity- SD political party/State of Goiás) and is intended to put the so-called "pirate associations" under the supervision of the Private Insurance Superintendence (SUSEP) and the National Council of Private Insurance (CNSP). The term "pirate associations" was created to designate cooperatives and mutual funds that offer insurance to their members or develop insurance activities, as if they were insurers in fact.

Although acting as typical insurers, currently, these associations are not subject to the rules set by CNSP and inspection by SUSEP - therefore they are not required to meet the strict requirements set by CNSP and SUSEP.

Santos Bevilaqua's lawyer and President of the National Group of Consumer Relations from AIDA - Brazil, Ana Paula Bonilha de Toledo Costa, and National Confederation of Companies in General Insurance, Private Pension and Life, Health Insurance and Capitalization - CNSeg's lawyer and Vice-President of the National Group of Consumer Relations from AIDA - Brazil, Nathália Rodrigues, are co-writing an article about this theme that will be published soon.

The course of Bill no. 3139/2015 may be checked at: http://www.camara.gov.br/proposicoesWeb/fichadetramitacao?idProposicao=1805742

2) DECREE No. 9374, OF 5/14/2018

On 5/15/2018, the Federal Official Journal published Decree no. 9374, of 5/14/2018, amending Decree no. 3937, of September 25, 2001, which regulates Law no. 6704, of October 26, 1979, that provides for the Export Credit Insurance (SCE).

The decree amends item IV of article 3 of Decree 3937 to specify what is considered a political risk in regard to any act or decision of the authorities of a debtor country preventing the performance of a guaranteed contract.

In addition, par. 10 of art. 8 was changed and now it determines that the Federal Government's guarantee for the SCE operations will apply not only to the principal but also to the interest. Therefore, it...

To continue reading

REQUEST YOUR TRIAL