Regulatory Alerts2026-06-04
CMF Applies Censure Sanctions to Insurance Company and Broker for Marketing Policies with Coverage Non-Compliant with Law No. 20.009
The Chilean Financial Market Commission (CMF) issued censure sanctions against Chubb Seguros Chile S.A. and Banchile Corredores de Seguros Limitada for marketing insurance policies with coverage that violated Law No. 20.009 and failed to comply with regulatory instructions. Resolution No. 5645 confirms that both entities distributed policies containing non-compliant coverage provisions under the regulations applicable at the time. The severity of the penalty was reduced due to the low materiality of the violations and the companies' prompt corrective measures.
CMF Applies Censure Sanctions to Insurance Company and Broker for Marketing Policies with Coverage Non-Compliant with Law No. 20.009 June 04, 2026.- The Financial Market Commission (CMF) announces that its Board resolved to apply a censure sanction to Chubb Seguros Chile S.A. and Banchile Corredores de Seguros Limitada, for marketing policies that did not comply with Law No. 20.009, as well as for non-compliance with instructions. According to Resolution No. 5645, both Chubb and Banchile participated in the marketing of policies containing coverage that did not comply with the regulations in effect at that time under Law No. 20.009. To determine the sanction, it was considered that the materiality of the case was low and that the companies corrected their conduct.
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