The new regulation for large-risk insurance will allow the market greater freedom of negotiation between parties, eliminating the need to register information with SUSEP. This measure will provide greater flexibility for insurers and stimulate innovation.
Based on the nature of each insurance policy, the standard defines the following lines as major risks: oil risks, named and operational risks (RNO), global banking risks, aeronautics, maritime risks, and nuclear risks. In addition, SUSEP includes the group of domestic credit and export credit risks when the insured parties are legal entities.
Other lines of property and casualty insurance may be classified as major risk contracts when the maximum guarantee limit (LMG) is greater than R$15.000.000,00 (fifteen million reais); or when, in the previous fiscal year, the contractor had total assets exceeding R$27.000.000,00 (twenty-seven million reais) or annual gross revenue exceeding R$57.000.000,00 (fifty-seven million reais).
As a result, the new rule promotes a less complex procedure for insurance company operations, reducing bureaucracy in this sector and streamlining the policy contracting process.
