According to the circular of the Insurance and Pension Supervision Service (ASF), insurers must adapt their computer systems by the end of the year so that when issuing the next receipt, customers can understand: how much they paid and how much they will pay; how the sum insured and contractual coverage changes (details); and why the premium is going up (quantifying each reason separately).
Contracts covered by these new rules: car; fire and other damage; and individual medical contracts. The recommendation comes into force on January 1, 2024.
Author: Miguel Alexander Ganan([email protected])
Source: CM Jornal
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