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Interpretation and protection of the insured – Contracts and documents will always be interpreted in favor of the insured, ensuring greater transparency and legal certainty.
Applicable legislation and dispute resolution – Insurance contracts will follow exclusively national legislation, with the possibility of arbitration and other forms of dispute resolution.
Underwriting and risk assessment – Insurers must adopt clear criteria and avoid discriminatory practices, while policyholders must provide accurate information in the proposal.
Notice and adjustment of claims – Claims must be reported immediately to the insurer, which will have up to 30 days to complete the adjustment, except in complex cases.
Statute of limitations for lawsuits – Deadlines for lawsuits have been defined: one year for the collection of premiums and three years for beneficiaries or third parties to demand compensation.
Reinsurance and portfolio assignment – The reinsurance contract is automatically accepted within 20 days; portfolio assignment requires Susep's approval and a guarantee of continuity to the insured.
Transfer of the insured interest – The transfer of the insurance requires the consent of the insurer when the new holder represents a significant increase in risk.