Regulatory Alerts2026-01-20 | 3/3Added · Updated
Decision No. 3/3 of 20 January 2026 regarding petitions registered with the National Financial Market Commission concerning SA ACORD GRUP
The National Financial Market Commission issued Decision No. 3/3 on 20 January 2026 to resolve petitions filed by a private individual and a limited liability company against SA ACORD GRUP regarding the validity of their mandatory third-party liability insurance contract. The regulator determined that the insurer acted in bad faith and violated professional diligence standards by attempting to retroactively modify the contract and demand additional premiums after the vehicle had already been leased to a legal entity. The decision clarifies that under Law No. 106/2022, the risk for the legal entity user is covered by the original contract, granting the insurer only the right of recourse rather than the right to unilaterally modify or terminate the policyholder's contract.