The Chile Financial Market Commission has fined Renta Nacional Compañía de Seguros Generales S.A. UF 150 after finding that, between October 2021 and January 2025, it sold insurance through sales agents that were not enrolled in the Registry of Insurance Sales Agents and through insurance brokers whose listings in the Registry of Insurance Trade Auxiliaries had been cancelled. The sanction was imposed by the CMF Board, with the conduct found to breach Articles 57 and 58 of the Insurance Law and General Rule No. 471. The release states that insurers must verify in the public registry that parties acting as brokers are duly authorized before policies are sold, and may market insurance through sales agents only if those agents are enrolled in the relevant registry and permitted to sell insurance. CMF found that those checks were not carried out in this case.
Chile Financial Market Commission 2026-05-11
Chile Financial Market Commission fines Renta Nacional Compañía de Seguros Generales UF 150 for selling policies through unenrolled agents and brokers with cancelled registrations
The Chile Financial Market Commission has fined Renta Nacional Compañía de Seguros Generales S.A. UF 150 for selling insurance between October 2021 and January 2025 through sales agents not enrolled in the Registry of Insurance Sales Agents and through brokers whose listings in the Registry of Insurance Trade Auxiliaries had been cancelled. The CMF Board found breaches of Articles 57 and 58 of the Insurance Law and General Rule No. 471, noting that the insurer failed to verify in the public registry that intermediaries were authorized before selling policies.