The Superintendency simplified the wording of insurance policies: since when do the changes apply

On his train simplify and deregulate the operations of the different economic sectorsthe Government took a further step in this regard within the insurance industry with the elimination of some complexities in the wording of the insurance regulations and some policies “in order to introduce simple and orderly wording that provides certainty and clarity.” , according to the rule.

The changes made apply to policies issued and/or renewed. starting July 1, 2025. This is what was arranged by the National Insurance Superintendency (SSN) through the Resolution 664/2024 in which it indicates that “there is excessive regulation regarding the minimum content for the preparation of Specific Conditions, Certificate of Incorporation and Insurance Application Forms, and the existence of formal and procedural requirements that undermine the achievement of the objective of a more efficient market and more dynamic and effective control“.

In this sense, some points of the General Regulations of Insurance Activity (to SSN Resolution No. 38,708 dated November 6, 2014) so ​​that it was provided in point 25.1.1. that “the insurance application must contain the information necessary for the marketing of the contractual conditions corresponding to each particular contract and have the consent of the applicant, requiring the following data from the insured and/or policyholder, as the case may be: name and surname, CUIT/CUIL/DNI, address, email and telephone.

Likewise, it was added that No coverage or contractual condition that has not been expressly contracted by the insured and/or policyholder in the application cannot form part of the policy. and that “the required data must be specified regarding the state of the risk, particularly in relation to the minimum security measures necessary to have coverage.”

Changes in personal insurance

Another element that was established was that “In personal insurance, questions related to health status cannot be incorporated of the insurable in the insurance application, which must appear only in the Health Declaration.” And every application must include the legend: “Any false statement or any reluctance of circumstances known to the insured, even made in good faith, that In the opinion of experts, it would have prevented the contract or modified its conditions, if the insurer had been assured of the true state of the risk, it renders the contract void (Article 5, first paragraph, of Insurance Law No. 17,418).

How are the policies with the new conditions?

Regarding the policies, it was provided in point 25.2. that “The insurer must deliver to the policyholder a duly signed policy containing the following elements:

• Particular Conditions, also called “Policy Front”which must be prepared on the insurer’s letterhead, containing at least the data recorded in the “Annex to point 25.2.1. inc. to)”;
• Contractual conditions of the insurance policy, contemplating only those requested by the insured and subscribed by the insurer. Exclusions and warnings must be stated in prominent typography;
• For the coverage required by article 68 of the Traffic and Road Safety Law No. 24,449, the policyholder must be given a proof of COMPULSORY MOTOR INSURANCE that contains the following data: i. Policy No.……..;

ii. Endorsement No.……;

iii. Company name, address and telephone number of the insurer;

iv. Coverage Period: From 12 hours a day …. /…. / …. Until 12 hours a day …. /…. /….;

v. Data on the insured vehicle: type, brand, domain, engine No. and chassis No.;

vi. NOTE: Possession of this mandatory proof will be sufficient proof of the validity of the mandatory automobile insurance required by Article 68 of Law No. 24,449. In accordance with Article 2 of Provision No. 70/2009 of the NATIONAL ROAD SAFETY AGENCY, the failure of the driver of the vehicle to carry the receipt of payment of the mandatory insurance premium may not be alleged by the Verification Authority to determine non-compliance with the requirements for circulation; and

vii. Signature and clarification of the person authorized for this purpose by the insurer.

Group policies

When the insurance is contracted simultaneously with several insurers under the coinsurance modality, a single policy can be issued stating the identification of each of the insurers involved.the percentage of the risk they assume and the type of participation (joint or joint).

In contracted group insurance by banks or other financial entitiescovering unpaid balances of loans (personal, mortgage, pledge or unsecured), or contracted by savings entities for predetermined purposes (closed circles), insurers can extend the Individual Incorporation Certificate only once at the time of granting the loan. In case of modifications to the contractual conditions, the Individual Incorporation Certificate must be reissued.

Another element that was defined is that Property insurance contracts cannot be concluded under the form of group insurance.unless there is a pre-existing legal link between the members of the group that justifies this method of contracting, a circumstance that must be verified by the insurer. In no case can the capacity of policyholder and instituting agent or producer be combined in the same person.