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[BUSINESS] · Brazil · 60 sources

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Brazil enacts new rural insurance and reinsurance laws

Brazil has enacted Law No. 15.526, a new legal framework that establishes rural insurance as a key instrument of national agricultural policy. The legislation aims to provide greater financial stability and legal certainty for producers facing climate-related risks.

Key provisions include strict timelines for insurance claims: non-physical inspections must be completed within 15 days of notification, and indemnity payments must be made within 30 days of document delivery or technical inspection. The law also integrates rural insurance with agricultural credit, allowing financial institutions to use insurance policy rights as collateral for loans. Insured producers may also receive preferential access to credit and debt renegotiation.

Additionally, the law regulates the 'Catastrophe Fund' to support insurers during extraordinary crop losses and mandates that federal subsidies for insurance premiums be protected from budget contingency. Separately, Law No. 15.525 has been enacted to reduce the tax burden on local reinsurers, lowering the CSLL rate from 15% to 9% to increase market competitiveness.

Entities

Brazil · Brazilian Government · Companhia Nacional de Abastecimento · Conab · Congresso Nacional · Frente Parlamentar da Agropecuária · Goiânia · Luiz Inácio Lula da Silva · Serasa Experian · Superior Tribunal de Justiça · Susep · Tereza Cristina

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