The ASF published Circular 3/2023 of 29 March, in which it stresses its concern with various subjects, making recommendations that may help mitigate the impact of the macroeconomic situation on policyholders, insured persons and beneficiaries.
Regarding payment notices, the recommendations deal with the need for insurers to comply with the duty of information, namely regarding the communication of the impact that certain factors, such as the variation in the claims rate or the insured capital, may have on the variation of the premium applicable to the contract.
The ASF stresses that it is essential that the parties, particularly insurance companies, comply with the ancillary provisions to which they are subject, such as the duties of loyalty, assistance, information, clarification and protection.
Insurers must implement these recommendations and report them to the ASF, in a specific report to be made available until 31 December 2023.
The Circular no. 3/2023, 29 of March, is available here.