Susep suspends Generali Brasil travel insurance operations

The Superintendência de Seguros Privados (Susep) has unanimously decided to suspend Generali Brasil Seguros S/A from operating in the travel insurance sector. The precautionary measure follows a supervisory action that identified irregularities in the company’s commercialization, regulation, and settlement of claims.

Investigators highlighted compensation mechanisms that could create conflicts of interest. Specifically, the representative Hero MGA Serviços Ltda. utilized a model that linked its remuneration to operational results, including indicators related to paid and pending claims. Susep noted that this structure could provide economic incentives to reduce or deny insurance indemnities.

Susep reported that Hero MGA had previously been involved in similar irregularities with another insurer in 2024. Despite this, the company implemented a similar structure for Generali. Additional findings included failures in record-keeping, issues with information submitted to the regulator, and problems regarding payments to medical-hospital service providers.