The Board of the Chile Financial Market Commission (CMF) sanctioned Seguros Generales Suramericana S.A. for marketing insurance policies through sales agents who were not enrolled in the Registry of Insurance Trade Auxiliaries. Under Resolution No. 1,771, the CMF imposed a UF 100 fine after finding breaches of Article 57 of Decree with Force of Law No. 251 (Insurance Law) and General Rule No. 471. The decision cites the sale of at least 5,349 policies between July 2023 and June 2025 through at least 155 sales agents not registered, despite the requirement that agents be enrolled before starting insurance sales activities.
Chile Financial Market Commission 2026-02-17
Chile Financial Market Commission fines Seguros Generales Suramericana UF 100 for selling insurance through unregistered sales agents
The Chile Financial Market Commission sanctioned Seguros Generales Suramericana S.A. for using unregistered sales agents to market insurance policies. A UF 100 fine was imposed under Resolution No. 1,771 for breaching Article 57 of the Insurance Law and General Rule No. 471, involving at least 5,349 policies sold by 155 unregistered agents between July 2023 and June 2025.