Machua Millett of EAPD is participating in the American Conference Institute’s Second International Forum on Brazilian Reinsurance.
The final day of the conference focused on strategies for overcoming underwriting and operational challenges of the Brazilian market, maintaining compliance with the regulatory requirements imposed by Brazilian regulators, adjusting to local claims and loss adjustment practices, navigating disputes in local courts and alternative fora and drafting reinsurance agreements to minimize cultural misunderstandings, local pitfalls and unnecessary disputes. Significant time was also spent discussing different potential lines of business for foreign reinsurers and their respective risks and advantages. In the end, perhaps the singular conclusion of the day was the need for foreign reinsurers entering the Brazilian market to retain knowledgeable professionals with an appreciation of local culture and requirements as well as a broad-based understanding of the global insurance and reinsurance business.
If you would be interested in learning more about the Brazilian and/or other Latin American (re)insurance markets and/or regulatory environments, please click the “Email the Editor” button and provide your contact information for follow-up by an EAPD attorney.
