Regulatory Alerts2024-06-05 | NRP-66Technical Standards for the Deposit of Insurance Policy Models
The Norms Committee of the Central Reserve Bank of El Salvador issued Technical Standards NRP-66 to regulate the mandatory deposit of insurance policy models with the Financial System Superintendence. The document establishes detailed procedures, timelines, and technical requirements for insurers to submit new policies or modifications, ensuring compliance with actuarial bases and legal frameworks. It defines the scope of application, specific content requirements for policy clauses, and the consequences for non-compliance, including suspension of commercialization.
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