The Brazilian Superintendence of Private Insurance (SUSEP) announced the publication of National Council of Private Insurance Resolution CNSP No. 489, which updates the special regimes of fiscal management, intervention, and extrajudicial and ordinary liquidation applicable to insurers, capitalization companies, open private pension entities, local reinsurers, insurance cooperatives, and mutual property protection operation administrators. The new rules take effect 90 days after publication and revoke and replace CNSP Resolution No. 395/2020. The update aligns the regime with changes introduced by Law No. 14.112/2020, including amendments affecting the ranking of claims in bankruptcy under Article 83 of Law No. 11.101/2005. It also refreshes references to repealed legislation, removes operational deadlines for those responsible for conducting the special regimes, revises the classification criteria of supervised entities for remuneration purposes, updates provisions on liability provisions and the Technical Committee for Special Regimes, and makes targeted drafting changes for clarity and simplification. In addition, it incorporates provisions applicable to insurance cooperatives and mutual property protection operation administrators in light of Complementary Law No. 213/2025. SUSEP indicated that the operational deadlines removed from the resolution will be addressed in a separate SUSEP resolution that is currently being prepared.

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