Regulatory Alerts2017-08-25 | CD-SIBOIF-1012-1-AGOS25-2017Added · Updated
Standard Reforming Article 6 of the Standard on Pre-Printed Signatures in Contracts for Financial Operations
The Board of Directors of the Superintendence of Banks and Other Financial Institutions amended Article 6 of the Standard on Pre-Printed Signatures in Contracts Containing Financial Operations to authorize the use of pre-printed signatures for insurance policies with 100% retention or under proportional reinsurance contracts. This amendment applies to banks, financial companies, and insurance companies, allowing them to use pre-printed signatures for these specific policies alongside existing categories such as personal credit contracts and mandatory motor vehicle insurance. The resolution entered into force upon notification on August 25, 2017.