The year of 2024 was marked by several initiatives from the Brazilian insurance regulator, such as the creation of working groups for the study and discussion with various market stakeholders on topics such as reinsurance, cyber, infrastructure, national insurance access policy, in line with the regulatory plan of the insurance authority and aiming at the development of products, as well as the relationship between several sectors; and intense normative production on diverse fronts, with relevant updates in corporate processes of SUSEP; life insurance; regulation of transport insurance to align with new federal legislation; creation of a specific regulation on remuneration in supervised entities and a framework for sustainable products.
The industry also drew attention to the Brazilian Insurance Act, Law No. 15,040, published on December 10, 2024, which will be regulated by SUSEP throughout 2025 and will certainly still be subject of intense debate and interpretation for its application.
In the judicial field, important decisions were also issued by the higher courts regarding insurance matters, and the sector remained attentive to both the impacts on claims and the measures to help mitigate new tragedies like the one that occurred in the State of Rio Grande do Sul.
Our Insurance and Reinsurance team gathered the main regulatory updates in the SUSEP regulatory, legislative and judicial scope of 2024 and the outlook for 2025.
