2022-07-14 | DOF 5658034

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Amending Circular 4/22 of the Single Insurance and Surety Circular

This circular adds a transitional provision to the Single Insurance and Surety Circular, exempting physical person insurance agents and authorized representatives of moral person agents from retaking the 'Individual Life Insurance Risks' exam if they previously passed it at Level II before the 'Systems and Financial Markets' exam was added. These exempted agents must only retake exams where they previously achieved Level I accreditation, provided their authorization has been continuously renewed since July 2, 2007, and the exemption applies to the same category. The measure specifically targets agents holding categories A1, A, B1, B, or C.

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DOF: 14/07/2022

Amending Circular 4/22 of the Single Insurance and Surety Circular

At the margin, a seal with the National Coat of Arms, which reads: United Mexican States.- TREASURY.- Ministry of Finance and Public Credit.- National Insurance and Surety Commission.

AMENDING CIRCULAR 4/22 OF THE SINGLE INSURANCE AND SURETY CIRCULAR

(Transitional Provision Eighty-Seven)

The National Insurance and Surety Commission, based on the provisions of articles 366, fraction II, 367, fraction II, 372, fractions VI and XLII, 373, and 381 of the Law of Insurance and Surety Institutions, and

CONSIDERING

That articles 91 and 92 of the Law of Insurance and Surety Institutions establish that the activity of intermediation for the contracting of insurance or sureties is reserved for insurance or surety agents, as applicable.

That article 93 of the aforementioned Law provides that, to exercise the activity of insurance or surety agent, authorization from this Commission is required, which may be granted for the operations and insurance lines, as well as surety lines and sub-lines determined by this Decentralized Body, having the character of non-transferable. Likewise, that said provision establishes that the authorization for insurance or surety agent may be granted to natural and legal persons through attorneys who meet the requirements established in the Regulations of Insurance and Surety Agents.

That article 94 of the Law of Insurance and Surety Institutions states that the activities carried out by insurance agents and surety agents will be subject, among others, to the general provisions determined by this Commission. In this sense, in Chapters 32.3., 32.4., and 32.7. of the Single Insurance and Surety Circular, it is established that interested parties, in addition to complying with what is provided in Provisions 32.3.2. and 32.4.2., must accredit their technical capacity before the Commission, in accordance with Chapter 32.7. of the same.

That the results of the tests of the exams to carry out the evaluation of technical capacity have two levels of approval, "Level I" obtaining a minimum percentage of 60%, without reaching 80% of correct answers of the total of formulated questions, and "Level II" obtaining a minimum percentage of 80% of correct answers of the total of formulated questions, in accordance with subsections a) and b) of fraction IV of Provision 32.7.1. of the Single Insurance and Surety Circular.

That those who obtain Level II approval will be considered to have accredited their technical capacity with respect to the test or tests in question, while their authorization is duly renewed.

That those who accredit their technical capacity having obtained in any of the tests of the required exam Level I, must sustain it again with respect to the test or tests in question, before obtaining the renewal of their authorization.

That the results of the approved tests will be recognized for a period not exceeding four years counted from the date of accreditation.

That the exams to evaluate the technical capacity of Physical Person Agents and Authorized Representatives of Moral Person Agents to obtain an authorization different from the one they currently hold, will not include the tests in which they have achieved Level II of evaluation.

That the Fortieth Transitional Provision of the Single Insurance and Surety Circular orders that those who had counted with three uninterrupted renewals before June 2, 2003, or in their case, had fulfilled with hours of training accreditable in certificates, in accordance with the certification scheme provided in Circular S-1.1 of May 15, 1996, will be exempt from accrediting the technical capacity referred to in Chapter 32.7. of these Provisions.

That fraction V of article 10 of the Regulations of Insurance and Surety Agents in force, empowers this Commission to evaluate the technical capacity of the persons who request authorization or renewal as physical person agents or attorneys to exercise the activities of intermediation, through the application of exams before the same or the legal persons that it designates for such effect.

In view of the foregoing, this Commission has resolved to issue the following modification to the Single Insurance and Surety Circular in the terms specified below:

AMENDING CIRCULAR 4/22 OF THE SINGLE INSURANCE AND SURETY CIRCULAR

(Transitional Provision Eighty-Seven)

SINGLE.- The Transitional Provision Eighty-Seven is added to the Single Insurance and Surety Circular, to read as follows:

« EIGHTY-SEVENTH. The renewals of the authorizations of Physical Person Agent and of Authorized Representative of Moral Person Agent referred to in Provision 32.4.1. category "A1" or "A" or "B1" or "B" or "C", who had exempted with level II the test called "Individual Risks of Life Insurance" before including the test of "Systems and Financial Markets" in the exams of the categories in question, will no longer be required to accredit it while their authorization has been renewed uninterruptedly since July 2, 2007, having only to sustain and accredit those tests in which they obtained level I of accreditation. The foregoing, always provided that it concerns the same category. »

TRANSITIONAL

SINGLE.- This Amending Circular will enter into force the day following its publication in the Official Gazette of the Federation.

The foregoing is made known to you based on articles 366, fraction II, 367, fraction II, 372, fractions VI and XLII, 373, and 381 of the Law of Insurance and Surety Institutions.

Respectfully,

Mexico City, July 6, 2022. - The President of the National Insurance and Surety Commission, Ricardo Ernesto Ochoa Rodríguez. - Rubric.

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