Regulatory Alerts2022-01-01 | JPRF-S-2022-029Resolution JPRF-S-2022-029 Amending the Deadline for Submitting the Unique and Definitive Base of Insureds and Beneficiaries to COSEDE for Private Insurance Fund Coverage Payments
The Financial Policy and Regulation Board of Ecuador issued Resolution JPRF-S-2022-029 to amend Article 3 of the Private Insurance Fund regulations, specifically modifying the deadline for liquidators to submit the definitive database of insureds and beneficiaries to COSEDE. This resolution clarifies that COSEDE's coverage is limited to pending claims accepted by the insolvent insurer at the date of forced liquidation, including unreported claims reported to the liquidator. The measure aims to streamline the payment process for the Private Insurance Fund and entered into force immediately upon issuance on May 17, 2022.
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