The pandemic that hit the world has generated an unprecedented amount of regulatory and institutional emergency initiatives.
In addition, Brazil is going through a time of great changes due to the natural process of implementation of measures by a government with a different policy than the one that preceded it.
All of this impacts on the priorities of companies and people.
Because of this, and with the objective to prepare a useful newsletter, we have chosen not to publish our newsletters in the last few months. Now, we summarized the last six months of 2020 with a focus on insurance market legislation and relevant standards for its agents.
Considering specifically a series of rules issued to incentive the innovation, we have also brought elements of the Securities and Exchange Commission and the Central Bank's innovation guidelines, which are closely linked to the Private Insurance Superintendence's own innovation agenda, which is fully revealed when we look at the past months in perspective.
INSURANCE AND OPEN SUPPLEMENTARY SOCIAL SECURITY
1)RESOLUTIONS NATIONAL PRIVATE INSURANCE COUNCIL – CNSP Nº 388 and 389, of 08.09.2020
The RESOLUTION CNSP nº 388 establishes the segmentation of insurance companies, capitalization companies, local reinsurers and open supplementary pension funds (EAPCs) for the proportional application of prudential regulation.
The RESOLUTION CNSP nº 389, de 08.09.2020, changes RESOLUTION CNSP nº 321, of July 15, 2015.
If RESOLUTION CNSP n° 388 is the norm that creates the segmentation of companies in the insurance market, RESOLUTION later materializes this division into differentiated criteria for prudential regulation from the new segments.
RESOLUTION CNSP 389 promotes regulatory rates for the operations of small and medium enterprises in the insurance market, favoring market diversity.
2)RESOLUTION NATIONAL PRIVATE INSURANCE COUNCIL – CNSP Nº 391, of 30.10.2020
The RESOLUTION CNSP nº 391 establishes the rules for the issue of subordinated debt by insurance companies, capitalization companies, local reinsurers and publicly-held supplementary pension funds incorporated as corporations.
Another measure promoting innovation in the relationship between the insurance market and the capital market.
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