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Law No. 15,040/2024 Becomes the Main Reference for the Sector, Reinforces Good Faith, Duty of Information, and Provides Parameters That Can Reduce Litigation.
As of last 11th, the new Insurance Law, known as the Legal Framework for Insurance (Law No. 15,040/2024), came into force. Brazil now has a more organized framework for private insurance contracts.
The change is significant because it replaces, in practice, a scenario where the rules were scattered. Until now, the topic was primarily guided by the Civil Code of 2002 and norms such as Decree Law No. 73/1966, LC 109/2001, and LC 126/2007.
As a result, the sector gains a more current foundation to deal with more sophisticated products, new technologies, and an environment with more legal disputes, which directly affects prices, predictability, and trust in contracts.
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What Happened and Why This Grabbed Attention
The new law marks a significant step for Private Law and the insurance market in the country. It reorganizes the discipline of insurance, consolidates principles already applied in practice, and defines more objective rules of governance, transparency, and balance between the parties.
The insurance activity plays a strategic role in the economy by diluting and mitigating risks, as well as protecting assets and individuals. When the rules change, the impact reaches the predictability of contracts and the very way of pricing risks.
The update had been anticipated for years. The previous model, anchored in the Civil Code of 2002, built from a committee of jurists established in 1969, and in dispersed norms, had come to be seen as insufficient for the current complexity.
How the New Law Became the Main Rule of the Sector
Before the change, a Commission of Jurists had even proposed a chapter on insurance contracts in the draft update of the Civil Code. The proposal aimed at amendments to the existing provisions from Articles 757 to 802.
At the same time, a project to create a comprehensive and standalone legislation for the insurance market was progressing in Congress, which became PL 2,597/24. With its approval, Law No. 15,040/2024 took center stage in the system.
The result was the consolidation of a specific framework for insurance, focusing on transparency, modernization of relationships, and the valuing of good faith and legal certainty.
What Changes in Practice for Insurers and Insured
Among the most relevant points, the law reinforces objective good faith and the duties connected to it, such as cooperation, transparency, and damage mitigation. The expectation is for more balanced relationships and less room for conflicts.
Limiting clauses now require more rigor, with prominence and clarity, along with proof of the insured’s effective awareness. This tends to reduce disputes over coverage and the scope of contractual conditions.
The standard also addresses risk aggravation with criteria compatible with an interpretation that requires concrete demonstration of the link between conduct and loss, allowing for premium adjustments and preservation of the contract, or loss of the right to coverage when applicable.
What Are the Rules, Deadlines, and Conditions That Gain Strength
Law No. 15,040/2024 brings rules regarding the duty of information of the insured and the policyholder. The acceptance of the proposal and the premium calculation are tied to the information provided in the questionnaire prepared by the insurer, used in the risk assessment.
It also includes provisions on insurance for the benefit of third parties, coinsurance, and cumulative insurance, as well as points regarding possible intervenors in the contract. The intention is to provide more predictability to existing formats in the market.
In practice, the change highlights the need for clear and complete information during contracting, both in the initial phase and in defining what is covered.
The Role of the Superior Court of Justice and What May Happen Now
With the new law in effect, the Superior Court of Justice (STJ) takes center stage in consolidating the interpretation of the federal norm. The uniformity is likely to be decisive in preventing divergent solutions in second instance courts.
The STJ should integrate the new framework into the existing body of understanding, identifying what has been codified and what represents a different legal regime, with the possibility of revising or overruling precedents.
This movement influences the economic stability of the sector, as the pricing of risk depends on a more predictable environment. Clear decisions on coverage, responsibility, and contractual interpretation reduce costs and may decrease litigation, including debates on the application of the CDC when relevant.
Points of Attention and Common Questions in Implementation
Despite the advances, the implementation brings challenges for the Judiciary. The systematic interpretation of the microsystem, the limits of private autonomy, the fulfillment of informational duties, and the rules for risk delimitation require alignment.
To mark the beginning of the enforcement of Law No. 15,040/2024, FGV Justice held a seminar with ministers of the STJ, judges, academics, lawyers, representatives of insurers, consumers, and the BNDES. The meeting debated the legal and economic impacts of the new framework.
Among the topics discussed, the immediate application of the law to ongoing contracts and processes came up, an issue that requires a prompt response from the Judiciary. The mandatory disclosure of conflicts directed to arbitration and their respective decisions, without personal identification, was also on the agenda, raising concerns regarding confidentiality in large claim losses.
Another discussed path was the creation of online channels for dispute resolution between insurers and clients, enabling direct interaction and greater speed, which could help reduce the litigation of contingently held litigation.
Law No. 15,040/2024 introduces a framework that reorganizes the discipline of insurance and seeks to raise the standard of transparency and balance in contractual relationships. The change is likely to impact everything from contracting to the interpretation of coverage and informational duties.
The performance of the system will depend on the articulation between norms, jurisprudence, and good market practices, paying attention to the rights of the insured and adequate dispute resolution solutions, preserving the social function of insurance and its role in national development.
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