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New Insurance Contract Legal Framework - Impact on the Bancassurance’s activity

March 2009 - Finance. Legal Developments by Vieira de Almeida & Associados.

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Decree-law no. 72/2008, of 16 April - the new insurance contract legal framework ("DL 72/2008") - which entered into force on 1 January 2009, is a step forward in the Portuguese insurance sector regulation, not only because it covers regulation that was currently lacking in insurance legislation, but also because it sets forth new legislative solutions, in either case always reflecting the concern of granting an increased protection to consumers, the policyholders.