Concept

It is a complex insurance operation, especially linked to the financial business that the traditional transactions of the insurance carrier. In this regard, according to circular 477/2013, the claim for these purposes is defined as the default of the policyholders’ obligations covered by the insurance.

Therefore, in the guarantee insurance, there is the possibility of two branches: i) guarantee insurance: insured – public sector and ii) guarantee insurance: insured – private sector. In both cases, there will be the figure of the borrower, who will be the debtor of the obligations assumed by the insured; the insured, who depending on the branch (public sector or private sector) will be defined, and the insurer itself, responsible for issuing the insurance policy and defined as guarantor of the fulfillment of the obligations of the policyholder.

Address / recipient

As previously mentioned, the guarantee insurance can achieve two different sectors, meaning private sector or public sector .concerning to the first modality, the insured will be the public administration or the grantor. In contrast, in the second modality, related to the private sector, the insured will be the obligations lender undertaken by the master contract borrower.

Services offered

ACG Advogados team is public known by the expertise and performance related to the guarantee insurance, developing in an accurate and personalized way according to each costumer necessity. Our longstanding experience in guarantee insurance field allows professional performance for the development of technical report at the consultative area until reimbursement stage, where our staff will pursue on the payment of disbursed amount, whether in judicial or administrative sphere, or even in party’s approach, if the necessity not arises from subrogation.

Legal relevance

It is an important insurance field that ensures the insurer’s right of recourse at the time of the payment for the insured and to the construction owner, also beneficiary under the policy, the pecuniary settlement of the borrower’s undertaken obligations, responsible for the construction, goods supply and for service rendering. All these criteria follow up what was stipulated in the civil construction contract or similar, between borrower and insured.