Santos Bevilaqua Newsletter ' January To April 2021

• Published date: 01 June 2021
• Subject Matter: Insurance, Insurance Laws and Products, Reinsurance
• Law Firm: Santos Bevilaqua Advogados
• Author: Ms Ana Paula Costa, Daniela De Matos Rodrigues, Jo'o Marcelo dos Santos, Juliano Nicolau De Castro, Keila Manang'o, Marco Antonio Bevilaqua and Roberto F. S. Malta Filho

INSURANCE AND OPEN SUPPLEMENTARY SOCIAL SECURITY

1) National Private System Council - CNSP RESOLUTION No. 402, OF 1/8/2021

CNSP Resolution 402/2021 approved the amount of R$ 4,127,768,723.96 as the difference between the amounts of technical provision of DPVAT (Compulsory Insurance against Personal Injury caused by Land Vehicles) Insurance Consortium and the amount for the payment of its obligations related to losses occurred until 12/31/2020.

2) National Private System Council - CNSP RESOLUTION No. 403, OF 1/8/2021

Approves the regulation of the Fund for Compulsory Personal Injury insurance (FDPVAT) caused by Land Automotive Vehicles, or their cargo, to transported or non-transported persons, with the CNSP as the highest instance of the fund governance.

FDPVAT will fund the indemnities for accidents that occurred from January 2021.

FDPVAT's managing institution will be the Federal Savings Bank (CEF), already appointed by the Private Insurance Superintendence (SUSEP), which will monitor and inspect the fund management.

The Managing Institution will follow the procedures described in the agreement executed with SUSEP; the payments comprise indemnity for death, permanent disability (total or partial), expenses with medical assistance, and similar ones in the amounts set in items I, II, and III of article 3 of Law no. 6194, of 1974.

The FDPVAT dissolution will be contingent on prior payment of all guaranteed debts, limited to its equity.

It is worth noting that the DPVAT became insurance without insurer since SUSEP only appointed the FDPVAT manager, and the Federal Savings Bank takes no responsibility for the insurance management.

3) Prosecution Office of the State of Rio de Janeiro - - PGE (RJ) RESOLUTION No. 4682, of 3/15/2021

PGE (RJ) Resolution no. 4682 lays down the requirements for acceptance of the performance bonds submitted by taxpayers, among others.

In conformity with the Resolution, the PGE (RJ) consolidated the understanding that the performance bond is an appropriate instrument to guarantee state tax liabilities, whether or not registered as overdue state tax liability, both in tax foreclosure proceedings and administrative proceedings not filed with a court for the exclusive purpose of obtaining a tax compliance certificate.

4) National Private Insurance Council - CNSP RESOLUTION No. 404, OF 3/26/2021

CNSP Resolution no. 404 provides for the Rural Insurance and Rural Insurance Stability Fund (FESR).

It revoked CNSP Resolutions no. 21/1987...