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[SITUATION] · [QUIET] · [BUSINESS]

2 clusters · 7 sources · 5 days · First seen 16 days ago · Last updated 12 days ago

Regulatory action against Brazilian travel insurance

Overview

The Superintendência de Seguros Privados (Susep) suspended Generali Brasil Seguros S/A from the travel insurance sector following a supervisory action. Investigators identified irregularities in commercialization, regulation, and claim settlements. Specifically, Susep noted that the representative Hero MGA Serviços Ltda. used a remuneration model linked to operational results, which could create economic incentives to “reduce or deny insurance indemnities.” Other issues included failures in record-keeping and problems with payments to medical-hospital service providers.

Following regulatory adjustments made in coordination with Susep, Hero Seguros has since normalized its travel insurance operations in Brazil. The company reported adapting its insurance representation contract and remuneration criteria to align with regulatory guidelines within 48 hours. The adjustments addressed the partnership structure with Ezze Seguros, and the company stated that current policyholders remain fully covered.

Entities

Susep · Hero Seguros · Superintendência de Seguros Privados · Generali Brasil Seguros S/A · Ezze Seguros

Timeline

12 days ago

[BUSINESS] 4 sources
Hero Seguros normalizes travel insurance operations in Brazil
Hero Seguros has resumed normal travel insurance operations in Brazil after adapting its contractual structures to meet Susep regulatory requirements.
16 days ago

[BUSINESS] 3 sources
Susep suspends Generali Brasil travel insurance operations
Brazil's Susep has suspended Generali Brasil Seguros from selling travel insurance due to irregularities and potential conflicts of interest in claim settlements.

Sources

agenciasegnews.com.br · eco.sapo.pt · eurio.com.br · insurancecorp.com.br · panrotas.com.br · revistaapolice.com.br · valor.globo.com