The Chile Financial Market Commission board, through Exempt Resolution No. 1,447, fined Compañía de Seguros de Crédito Continental S.A. UF 200 for breaching Articles 57 and 58 of Decree with Force of Law No. 251 (Insurance Law) after it sold at least 124 policies between January 2021 and February 2025 via insurance brokers whose registrations in the Registry of Insurance Trade Auxiliaries had been cancelled, despite insurers’ obligation to verify broker authorisation in the public registry.
Chile Financial Market Commission 2026-02-05
Chile Financial Market Commission fines Compañía de Seguros de Crédito Continental UF 200 for selling policies through unregistered brokers
The Chile Financial Market Commission fined Compañía de Seguros de Crédito Continental S.A. UF 200 for violating Articles 57 and 58 of the Insurance Law. The company sold at least 124 policies through brokers with cancelled registrations, failing to verify broker authorisation as required.