Agreement suspending deadlines for institutions and persons subject to supervision by the National Insurance and Bonding Commission due to the COVID-19 coronavirus

DOF: 04/05/2020

AGREEMENT suspending deadlines for the attention of institutions and persons subject to supervision by the National Insurance and Bonding Commission, due to the coronavirus named COVID-19

A seal with the National Coat of Arms, which says: United Mexican States.- TREASURY.- Ministry of

Treasury and Public Credit.- National Insurance and Bonding Commission.

RICARDO ERNESTO OCHOA RODRÍGUEZ, President of the National Insurance and Bonding Commission,

based on what is established in articles 1, third paragraph, 4, fourth paragraph, 73, section XVI, Bases

1 to 3, 90, first paragraph, of the Political Constitution of the United Mexican States; as well as 366,

section II, 372, sections I and II and 381 of the Law of Insurance and Bonding Institutions, 9 and 48 of the

Internal Regulations of the National Insurance and Bonding Commission; and

CONSIDERING

That the World Health Organization declared on March 11, 2020, as a global pandemic the coronavirus named SARS-CoV2 (COVID-19) since it is highly contagious and puts

at risk the health and even the life of the population, both cases guaranteed as Human Rights in

our Political Constitution of the United Mexican States, particularly derived from its long period

of incubation that even being infectious, is asymptomatic, and since it is not obvious it encourages infected

individuals to continue with their usual activities in coexistence with others, potentiating the

growth of the impact of the virus.

That the General Health Council, in its Extraordinary First Session held on March 19, 2020, recognized the pandemic caused by the virus named SARS-CoV2 (COVID-19) in

Mexico, as a serious disease of priority attention, contemplating for this the adoption of preventive

measures, including those for closed and open spaces aimed at mitigating the risk of community transmission

of the virus, which implies consequently and for all effects that this is a situation of

force majeure.

That on March 30, 2020, the General Health Council published in the Official Gazette of the

Federation the "Agreement declaring as a health emergency due to force majeure, the

epidemic of disease generated by the SARS-CoV2 virus (COVID-19)", stating that the Ministry of

Health would determine the actions necessary to address this emergency.

That on March 31, 2020, the Ministry of Health published in the Official Gazette of the

Federation the "Agreement establishing extraordinary actions to address the health emergency

generated by the SARS-CoV2 virus (COVID-19)", through which, among other measures, it orders

the immediate suspension, from March 30 to April 30, 2020, of non-essential activities in the

public, social and private sectors, with the aim of mitigating the dispersion and transmission of the

virus in the community, to reduce the disease burden, its complications and death in the population

resident in the national territory.

Likewise, it was determined in article one of the aforementioned agreement that the continuity in the provision

of financial services is considered as an essential activity and established practices of

mandatory observance for those persons who carry out activities defined as essential.

That article one of the Law of Insurance and Bonding Institutions specifies financial services as the activities

and operations of insurance institutions, bonding institutions, as

well as those of insurance and bonding agents, among others.

That in view of the above, insurance and bonding institutions, as well as other persons

subject to the inspection and surveillance of the Commission have adopted multiple mechanisms to ensure the

continuity of the financial services they provide, but under the limitations and restrictions of operation

derived from the contingency.

That on April 7, 2020, this Commission published in the Official Gazette of the Federation

the "Agreement suspending deadlines for the attention of institutions and persons subject to

supervision by the National Insurance and Bonding Commission, due to the coronavirus named COVID-19";

valid until April 30, 2020.

That on April 21, 2020, the Ministry of Health published in the Official Gazette of the

Federation the "Agreement modifying the similar one establishing extraordinary actions

to address the health emergency generated by the SARS-CoV2 virus, published on March 31, 2020",

through which the deadline for the application of the extraordinary measures already implemented is modified, extending this period to May 30, 2020.

That since the agreement issued by the National Insurance and Bonding Commission, published in the

Official Gazette of the Federation on April 7, 2020, established that its validity would be until

April 30, 2020, it is necessary to provide regarding the new deadline referred to in the "Agreement

modifying the similar one establishing extraordinary actions to address the health emergency

generated by the SARS-CoV2 virus, published on March 31, 2020", in turn, object of

publication in the Official Gazette of the Federation on April 21 of this year.

That the agreement whose validity expires excepted from the suspension of deadlines the Regulatory Reports

2, 3, 4, 5, 7, 10, 11 and 13 of Title 38 of the Single Insurance and Bonding Circular. In this Agreement

Regulatory Report 6 is added to the aforementioned ones since, excepting its presentation for thirty more days

would affect the inspection and surveillance tasks in the matters of reinsurance and rebonding.

That likewise in the Agreement whose validity ends on April 30, 2020, no exclusions were made

from the suspension of deadlines the actions derived from inspection visits that were initiated before

April 7, 2020. In numeral THREE of this Agreement it is established that deadlines shall not be suspended

for the requirements formulated by the administrative units of the

National Insurance and Bonding Commission to address the files in progress derived from said inspection visits.

That the Commission is the Decentralized Body of the Federal Public Administration empowered to issue,

within the scope of its competence, the general provisions to which insurance institutions

and bonding institutions and other persons subject to supervision by the Commission must adhere and that in virtue of what has been stated above considers it necessary to issue a new agreement in the following terms:

AGREEMENT SUSPENDING DEADLINES FOR THE ATTENTION OF INSTITUTIONS AND

PERSONS SUBJECT TO SUPERVISION BY THE NATIONAL INSURANCE AND BONDING COMMISSION, DUE

TO THE CORONAVIRUS NAMED COVID-19

FIRST. From the date of publication of this Agreement in the Official Gazette of the Federation

and until May 30, 2020,

deadlines regarding procedures and

proceedings that are underway, are carried out or should be carried out before this Commission are suspended, with the exception of those

indicated in numerales SECOND and THIRD of this one. During this period, deadlines established by applicable regulations will not run and will be considered as non-working days for the respective legal effects.

Likewise, deadlines referring to various requests for authorization or

registrations before this Commission are suspended. Regarding the renewal of authorizations for individual agent persons or

attorneys-in-fact of corporate agent persons, the provisions of Modifying Circular 4/20 of the Single

Insurance and Bonding Circular published in the Official Gazette of the Federation on March 27, 2020, shall apply.

The period contemplated in this Agreement shall also apply to the deadlines established for

the Commission to take knowledge or resolve what is appropriate regarding the procedures or proceedings of its

competence.

Consequently, on the next business day following the end of the period indicated in the first

paragraph of this numeral, the computation of the deadlines provided for in the applicable regulations shall resume.

SECOND. The suspension of deadlines shall not apply to Regularization Plans nor to the

Self-Correction Programs contemplated in articles 320, 321 and 322 of the Law of Insurance and Bonding Institutions, respectively.

Nor shall it apply to the information that insurance institutions, bonding institutions and other persons subject to supervision by the Commission must provide, regarding information requests,

recommendations or requirements issued or that have been issued by the Commission during the validity of this

Agreement and that are linked to the health contingency.

With respect to the obligations of insurance institutions, bonding institutions and other persons subject to supervision by the Commission consisting in the sending of information or Regulatory

Reports, the period indicated in the first paragraph of numeral FIRST shall only apply to

Regulatory Reports 1, 8, 9 and 12 of Title 38 of the Single Insurance and Bonding Circular.

THIRD. The attention to notifications and requirements that may be made by the administrative units that

had initiated inspection visits before April 7, 2020, is not included in the suspension deadlines referred to in numeral

FIRST, when the requirements are formulated for the processing of the files that as a result of said visits have not concluded.

The notifications and information requirements referred to in the previous paragraph, as well as their

attention by the institutions shall be carried out, based on article 389 of the Law of

Insurance and Bonding Institutions, through the Official Notification System of Requirements (SNOR), in accordance with what is established in chapter 39.5 of the Single Insurance and Bonding Circular.

FOURTH. This Agreement and the acts derived from it do not constitute a temporary or

definitive limitation of the attributes and powers that the laws confer on the Commission, nor will they generate greater

rights or benefits for the institutions and persons subject to supervision by the Commission, than those

expressly and by virtue of the contingency, defined by the Commission, being able to request the information

that it requires at any time and instruct what is appropriate in the exercise of its powers.

FIFTH. The public servants of the National Insurance and Bonding Commission will continue, as

until now, carrying out their work uninterruptedly, observing punctually all

valid determinations and those established by the health authorities.

TRANSITORY PROVISIONS:

FIRST. Publish in the Official Gazette of the Federation.

SECOND. From the first business day following the termination of the validity of this Agreement, the

Parties Office of the National Insurance and Bonding Commission will resume the receipt of documents

related to the procedures included in numeral FIRST, as well as those corresponding to the procedures

referred to in numeral FIRST of the "Agreement suspending deadlines for the attention of

institutions and persons subject to supervision by the National Insurance and Bonding Commission, due to the

coronavirus named COVID-19; with validity until April 30, 2020."

THIRD. For the receipt of digitized documents whose object is different from the attention to

the requirements that in terms of numeral THIRD the National Insurance and Bonding Commission

formulates, the official email address oficialiadepartes@cnsf.gob.mx is established.

Respectfully

Mexico City, April 30, 2020.- The President of the National Insurance and Bonding Commission,

Ricardo Ernesto Ochoa Rodríguez.- Signature.

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