III International Congress on Insurance Law | The importance of information when taking out insurance

At the beginning of November, Eduardo Damião, Risk and Insurance Director at Horiens, was one of the panelists at the III International Insurance Law Congress and X José Sollero Filho Insurance Law Forum.

The event, organized by the Brazilian Insurance Law Institute (IBDS) with the support of the STJ (Supreme Court) and the Sino-Lusophone Academy of the University of Coimbra, was attended by STJ ministers and other authorities, as well as professionals in the field from Brazil and abroad.

With the theme “Contracting insurance: burdens and duties of information”, the first panel of the congress was moderated by Dr. Ana Frazão, a professor at the University of Brasilia, and included Damião among the participants, alongside other experts such as Professor Jeffrey W. Stempel, from Nevada University, and lawyer Luca Giannotti.

Eduardo Damião, Risk and Insurance Director at Horiens.

In his presentation, Damião highlighted the most important informational aspects at the insurance contracting stage, considering a scenario of major risks. “If the purpose of insurance is to help the insured in a time of need, some essential measures must be taken at the insurance contracting stage so that the policy reflects the company’s risks, including those that are specific,” he explained.

Damião mentioned prudence and thoroughness in the conclusion of claims and highlighted aspects that influence the process involving insurance, such as the proper definition of the value at risk, the interest of reinsurers and the design of reinsurance itself, as well as the role of the Steering Committees in regulating complex claims.

Another topic discussed on the panel was the need to act to mitigate dispute scenarios in the event of insurance being triggered. “When we talk about mitigation, we’re mainly talking about knowing the risk well. You have to go into detail, look closely and specifically. The dynamics of inspections and risk reports, as well as open dialog about recommendations and good practices, are essential, because you can’t have the view that something is infallible,” he said. “This is a dynamic of mutual interest, benefiting the insured, the insurer, the reinsurer and other parties involved,” he explained.

To watch the full panels at the event, click here.