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Brazilian police crack down on illegal auto insurance sales

Bnamericas Published: Thursday, April 04, 2019
Brazilian police crack down on illegal auto insurance sales

Brazil's federal police launched a probe into the alleged sale of unauthorized vehicle insurance.

The police said in a statement that it raided the offices of an unnamed association in Cariacica and Serra, which are cities in southeastern state of Espirito Santo.

The association offered vehicle insurance policies without the authorization of insurance regulator Susep at below-market prices, according to the statement.

Vehicle insurance is the second largest segment in Brazil's insurance sector after the health segment, and illegal sales have increased in the past few years.

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