Regulatory Alerts2012-03-14 | CD-SIBOIF-719-2-MAR14-2012Added · Updated
Norm for the Authorization and Operation of Insurance Intermediaries
The Superintendence of Banks and Other Financial Institutions establishes the authorization and operational requirements for natural and legal persons acting as insurance intermediaries. The rule defines key concepts, sets minimum qualifications, and mandates specific documentation for agents, subagents, insurance agencies, brokerage societies, and individual brokers. It also prescribes application windows, knowledge examinations, internal control manuals, and minimum premium projections for the first year of operation.