The Board of the Chile Financial Market Commission (CMF) sanctioned insurance broker Tanner Corredora de Seguros Limitada with a UF 150 fine for failing to have representatives with sufficient accredited knowledge of the insurance business to carry out its activities. The conduct occurred between January 24 and May 2, 2025. The CMF referenced requirements for insurance brokers under Decree with Force of Law No. 251, Supreme Decree No. 1,055, and Circular Letter No. 2,271, which include accrediting sufficient knowledge of the insurance business, linking this obligation to brokers’ advisory duty to provide services tailored to policyholders’ specific needs.
Chile Financial Market Commission 2025-12-15
Chile Financial Market Commission fines Tanner Corredora de Seguros UF 150 for lacking adequately accredited insurance knowledge among representatives
The Chile Financial Market Commission sanctioned Tanner Corredora de Seguros Limitada with a UF 150 fine for lacking representatives with sufficient accredited insurance knowledge. The violation occurred between January 24 and May 2, 2025, contravening Decree with Force of Law No. 251, Supreme Decree No. 1,055, and Circular Letter No. 2,271, which mandate brokers to have adequate knowledge to meet policyholders' needs.