Regulatory Alerts2024-06-28 | NRP-67Technical Standards for the Registration of Entities that Commercialize Mass Insurance Policies
The Central Bank of El Salvador issued Technical Standards NRP-67 to establish the requirements for registering entities that promote and place mass insurance policies on behalf of insurance companies. The regulation mandates that insurance companies ensure their commercializers are properly registered, maintain updated information, and adhere to strict contractual, operational, and anti-money laundering protocols. It further outlines the registration procedure, timelines for approval, and the specific responsibilities of both insurers and commercializers regarding client data and policy administration.
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