Regulatory Alerts2016-09-06 | CD-SIBOIF-958-2-SEP6-2016Added · Updated
Norm for the Authorization of Insurance Policies
The Superintendence of Banks and Other Financial Institutions mandates that insurance companies submit policy texts, general and particular conditions, and actuarial technical notes for prior authorization before commercialization. The regulation specifies mandatory content for property, life, and surety insurance contracts and requires delivery of a claims brochure alongside the policy. Authorized policies must be delivered to insured parties within five days of premium payment, with modifications subject to a 15-day review period by the Superintendent.
Topics
Share