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08 January 2013
Section 22 of Decree-Law 179 of October 18 2012 introduced important changes to the insurance market, including with respect to compulsory motor liability insurance, insurers' websites, insurance mediation and the statute of limitations (for further details please see "Liberalisation measures are introduced").
Law 221 of December 19 2012 partially amended Decree-Law 179, with particular reference to the statute of limitations applicable to non-life insurance contracts: it re-introduced the two-year statute of limitations in lieu of the 10-year term that was originally set forth.
Law 221/2012 also confirmed the 10-year term statute of limitations for life insurance contracts.
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