Creation of Insurance Inspection
Decree no. 17556, of 5th November, created the Insurance Inspection in the Ministry of Finance, an entity that replaced the National Insurance Council in its function of supervising insurance companies, extending the powers of intervention granted to the previous entity to the field of accounting standardization and punishment of transgressions and contraventions of insurance legislation.
It was incumbent on the Insurance Inspection “…to exercise, on behalf of the Ministry of Finance, all acts of an active and rigorous supervision of insurance companies and their operations.” in Supervision of Insurance in Portugal
The Insurance Inspection Regulations were published on 13th December 1932.
Decree no. 21977, enacts the Insurance Inspection Regulation
DRE/ Diário do Govêrno nº 291/1932, Série I de 1932-12-13/ Ministry of Finance – Insurance Inspection / Pages 2450-2455