Amending Circular 1/22 of the Sole Insurance and Surety Circular

DOF: 11/01/2022

Amending Circular 1/22 of the Sole Insurance and Surety Circular

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AMENDING CIRCULAR 1/22 OF THE SOLE INSURANCE AND SURETY CIRCULAR

(Eighty-Fourth and Eighty-Fifth Transitory Provisions)

The National Commission of Insurance and Sureties, based on articles 91, 92, 93, 94, 366, section II, 367, section II, 372, sections VI, XXII and XLII, 373 and 381 of the Law of Insurance and Surety Institutions, and

CONSIDERING

That in view of the extraordinary actions established by the health authorities in our country to address the health emergency generated by the SARS-CoV2 virus (COVID-19), this National Commission of Insurance and Sureties has published various Agreements and Circulars by which deadlines have been suspended regarding various procedures and processes for the attention of insurance institutions, surety institutions, and other persons subject to its supervision.

In that context, this Decentralized Body of the Ministry of Finance and Public Credit, with the purpose of reducing the mobility and congregation of people within its service offices, published in the Official Gazette of the Federation, among others, the following Amending Circulars:

Amending Circular 4/20, published on March 27, 2020, through which the deadline to renew the authorizations of Individual Agent and Authorized Representative of Legal Entity Agent was suspended, until further notice, establishing that the authorizations that must be renewed during said suspension would remain valid until such time as this Commission issued the corresponding notice.

Amending Circular 3/21, published on March 19, 2021, through which it was established that the authorizations of Provisional Agents, whose validity had concluded from April 7 of 2020, will remain valid until such time as this Commission determined otherwise, through publication in the Official Gazette of the Federation.

That in accordance with the "Agreement establishing deadlines for the continuity of procedures and the resolution of procedures under the competence of the National Commission of Insurance and Sureties during the period of duration of the health contingency" published in the Official Gazette of the Federation on August 3, 2020, it was established that the computation of deadlines for the attention of procedures under the competence of the National Commission of Insurance and Sureties, would be determined based on the epidemiological traffic light that for Mexico City is made known by the health authorities of the Government of Mexico City. With regard to this, in point 1 of Numeral Five of said Agreement, it was indicated that in yellow light the deadlines for the attention of procedures and processes related to the authorization of individual agents and authorized representatives of legal entity agents would run; and in point 1 of Numeral Six, it was indicated that in green light the procedures and processes related to the renewal of authorizations of individual agents and authorized representatives of legal entity agents would resume.

That by notice published in the Official Gazette of Mexico City on October 15, 2021, the authorities of the Government of Mexico City made known that the color of the epidemiological traffic light of Mexico City changed to green. Likewise, by Notice published in said Gazette on October 29 of 2021, they made known that said color would persist until another determination was issued.

That the National Commission of Insurance and Sureties has continued carrying out its work observing the preventive measures determined by the health authorities, therefore it considers necessary to give to the persons who have the authorization to act either as Provisional Agent, Individual Agent or Authorized Representative of Legal Entity Agent, the deadlines to obtain their definitive authorization, or in its case, the renewal of their authorization, therefore it has resolved to issue the following modification to the Sole Circular of Insurance and Sureties, in the terms specified below:

AMENDING CIRCULAR 1/22 OF THE SOLE INSURANCE AND SURETY CIRCULAR

(Eighty-Fourth and Eighty-Fifth Transitory Provisions)

SOLE.- The Eighty-Fourth and Eighty-Fifth Transitory Provisions are added to the Sole Circular of Insurance and Sureties, to read as follows:

« EIGHTY-FOURTH.- The computation of deadlines for the renewal of authorizations of Individual Agents and Authorized Representatives of Legal Entity Agents to which article 15, last paragraph, of the Regulations of Insurance and Surety Agents, and Provision 32.4.1 of the Sole Circular of Insurance and Sureties, suspended by Amending Circular 4/20 of the Sole Insurance and Surety Circular published in the Official Gazette of the Federation on March 27, 2020. The authorizations of Individual Agents and Authorized Representatives of Legal Entity Agents that should have been renewed from that date will remain valid until September 30, 2022, including the authorizations that must be renewed during the same period. »

« EIGHTY-FIFTH.- The authorizations of Provisional Agents whose validity was extended by the publication in the Official Gazette of the Federation of Circular 3/21 on March 19 of 2021, will remain valid until March 31, 2022. »

TRANSITORY

SOLE.- This Amending Circular will enter into force on the next business day following its publication in the Official Gazette of the Federation.

The foregoing is made known to you, based on what is provided in articles 91, 92, 93, 94, 366, section II, 367, section II, 372, sections VI, XXII and XLII, 373 and 381 of the Law of Institutions of Insurance and Sureties.

Respectfully

Mexico City, January 3, 2022. - The President of the National Commission of Insurance and Sureties, Ricardo Ernesto Ochoa Rodríguez.- Signature.

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