The ASF published Circular 10/2022 of 29 November, 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.
The various subjects addressed in this Circular include recommendations on the policy of conception of products, the respective tariff structure and any adjustments; the associated sales policy; the special duty of diligence in claims settlement; clarification of the consequences of non-payment of the premium; due care to be taken in the business models adopted when they conflict with the customers' interests; and the reduction of the premium charged in cases where, under normal conditions, the insured capital decreases throughout the life of the policy.
The Circular no. 10/2022, 29 of November, is available here.
