News News Flash - Regulation of the Legal Regime for the Distribution of Insurance and Reinsurance - ASF Regulatory Standard No. 13/2020 09/02/2021

On January 26, 2021, Regulatory Standard No. 13/2020, of December 30, 2020, was published in Diário da República, which came to fulfill a set of duties arising from the legal regime for the distribution of insurance and reinsurance (“RJDS”), approved in annex to Law no. 7/2019, of 16 January.

The published Regulatory Standard will have in view the regulation of new matters set forth in this regime, as well as to prevent the dispersion of the normative collection in force, condensing its content in a single updated diploma.

Thus, Regulatory Standard No. 13/2020 comes, among other matters, to establish the requirements applicable to the new category of insurance intermediaries on an ancillary basis, to review the procedures applicable to the assessment of suitability and control of qualified holdings and proceed with the fulfillment of the applicable duties regarding the policy of treatment of policyholders, insured persons, beneficiaries and injured third parties and the management of complaints regarding the procedures to be followed by insurance intermediaries and insurance intermediaries on an ancillary basis for the provision of information to ASF. .

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