On December 16, 2020, the Superintendence of Private Insurance – SUSEP published the CNSP Resolution No. 397, of December 11, 2020, which provides for compulsory civil liability insurance for road passengers and cargo carriers between Brazil and French Guyana as well as disclosure on the contractual conditions of such product for vehicles registered in French Guyana.
Insurers who wish to operate the Compulsory Civil Liability Insurance of Road Carriers in International Travel for Vehicles registered in French Guyana (RCTR-VI-GF) must include the tariff criteria adopted in their actuarial technical note, and also inform SUSEP regarding the agents authorized to operate the insurance in the territory of French Guyana and able to provide assistance in the Brazilian territory, in the French language, to the insured parties.
The policies sold must be bilingual (Portuguese and French), and certificates attesting to this condition must be presented. However, any changes in the product which restrict the rights of the insured or that imply any burden, besides those that include new additional coverage and/or specific clauses conflicting with the legislation in force, are forbidden.
For vehicles carrying cargo licensed in French Guyana, the contracting of the Road Carrier – Cargo Liability Insurance (RCTR-C) and the Road Carrier Liability Insurance for Disappearance of Cargo (RCF-DC) is mandatory, and it must be possible to contract them with insurers that operate the RCTR-VI-GF insurance.
Finally, the contracting of the obligatory insurance of civil responsibility for companies of passengers and cargo transport that wish to transit in French Guiana is authorized, in accordance with the Brazil-France Agreement, and it is possible to contract such insurance with insurers of the neighbor country.
The new Resolution will come into force on January 4, 2021 and can be accessed in its entirety on this link.
Demarest’s Insurance and Reinsurance team is available to provide any additional clarifications that may be necessary.