Legal regulation of activities of insurance intermediaries Main part of this diploma thesis is aimed at the analysis and evaluation of new national regulation of insurance intermediaries included in the Act no. 170/2018 on distribution of insurance and reinsurance which is the result of implementation of Directive 2016/97 on insurance distribution into the national legislation. This thesis is divided into three chapters The first chapter is dedicated to the introduction of insurance industry as its own and specific economic segment. In this chapter I am discussing insurance industry from both historic and contemporary point of view. I try to briefly define insurance and insurance industry both from legal and economic aspects and then describe development of insurance and insurance industry through the history. At the end of this chapter, I discuss different distribution channels in insurance industry as one of those channels are insurance intermediaries. The second chapter starts with summary of historical regulation of insurance intermediaries since the creation of independent Czech Republic to present day. Main part of this chapter is dedicated to the current regulation of insurance intermediaries. At first, I am discussing different categories of insurance intermediaries and then I am describing...

Submitted by Luiz Fernando Hideichi Sasaki (luiz.sasaki@susep.gov.br) on 2016-08-02T19:55:32Z No. of bitstreams: 1 Luiz Sasaki - versão aprovada 29_07_2016.pdf: 2676534 bytes, checksum: 99cae22120aa59917795862e37f9f5b0 (MD5) / Approved for entry into archive by ÁUREA CORRÊA DA FONSECA CORRÊA DA FONSECA (aurea.fonseca@fgv.br) on 2016-08-03T16:32:17Z (GMT) No. of bitstreams: 1 Luiz Sasaki - versão aprovada 29_07_2016.pdf: 2676534 bytes, checksum: 99cae22120aa59917795862e37f9f5b0 (MD5) / Approved for entry into archive by Maria Almeida (maria.socorro@fgv.br) on 2016-08-23T19:56:49Z (GMT) No. of bitstreams: 1 Luiz Sasaki - versão aprovada 29_07_2016.pdf: 2676534 bytes, checksum: 99cae22120aa59917795862e37f9f5b0 (MD5) / Made available in DSpace on 2016-08-23T19:57:07Z (GMT). No. of bitstreams: 1 Luiz Sasaki - versão aprovada 29_07_2016.pdf: 2676534 bytes, checksum: 99cae22120aa59917795862e37f9f5b0 (MD5) Previous issue date: 2016-07-29 / Examining the prevalence of transparency in the sale of auto insurance in Brazil and around the world, this study considers the costs and benefits of this transparency through two surveys and based on extensive contextual and scholarly analyses. The agency relationship in the insurance intermediation consists of two principals (the consumer and the insurer) and one agent (the insurance broker). This relationship presents a classic principal-agent dilemma where the broker’s compensation system — in which insurers pay the brokerage commission — may portend negative effects for consumers. The international survey queried insurance supervisors and organizations representing insurers and insurance brokers about global practices related to the transparency in the auto insurance sale and received responses from 39 foreign jurisdictions (in addition to the European Commission). In the national survey, 191 Brazilian insurance brokers answered a questionnaire on their practices and opinions related to transparency in the auto insurance sale. The results show that 24 out of the 39 international jurisdictions analyzed require or encourage the disclosure of brokerage commissions to consumers. In jurisdictions where disclosure is compulsory, there is prior (prior to the decision made by the consumer) and active (without being requested by the consumer) transparency. In the national survey, results showed that 92% of insurance brokers (legal entities) in Brazil do not disclose to consumers the amount of brokerage commission received, and that 93% of brokers are against active disclosure and 92% against passive disclosure (at consumer request). Given these results, and based on the theoretical and empirical evidence examined, this study recommends the adoption of transparency requirements relating to prior and active disclosure of brokerage commissions in Brazil. / Ao examinar o domínio da transparência na venda do seguro automóvel no Brasil e no mundo, este estudo leva em consideração os custos e benefícios da transparência por meio de dois surveys e com base numa extensa análise contextual e acadêmica. A relação de agência que se forma na intermediação do seguro consiste de dois principais (consumidor e seguradoras) e um agente (corretor de seguro). Esta relação exibe um clássico dilema principal-agente onde o regime de remuneração dos corretores de seguro, no qual o pagamento da comissão de corretagem é feito pelas seguradoras, pode resultar em efeitos negativos para os consumidores. O survey internacional consultou supervisores de seguro e entidades representativas de seguradoras e de corretores de seguro sobre as práticas globais relacionadas à transparência na venda do seguro automóvel e recebeu respostas de 39 jurisdições estrangeiras (além da Comissão Europeia). No survey nacional, 191 corretoras de seguro brasileiras responderam um questionário sobre suas práticas e opiniões relacionadas à transparência na venda do seguro automóvel. Os resultados mostram que 24 das 39 jurisdições estrangeiras analisadas exigem ou apoiam a divulgação da comissão de corretagem aos consumidores. Nas jurisdições em que a divulgação é compulsória, prevalece a transparência prévia (anterior à tomada de decisão pelo consumidor) e ativa (sem que seja solicitada pelo consumidor). No survey nacional, os resultados mostram que 92% das corretoras de seguro (pessoas jurídicas) no Brasil não divulgam aos consumidores o valor da comissão de corretagem que recebem e que 93% das corretoras são contrárias à divulgação ativa e que 92% são contrárias à divulgação passiva (a pedido dos consumidores). Diante desses resultados, e baseado nas evidências teóricas e empíricas estudadas, recomenda-se a adoção de requisitos de transparência no Brasil, relacionados à divulgação prévia e ativa da comissão de corretagem aos consumidores.