The Chile Financial Market Commission (CMF) issued a regulation governing parametric insurance policies that insurance companies may offer, setting out criteria for how these products should be structured and presented. Parametric policies require insurers to pay the agreed compensation once a specified index threshold is met, without the insured needing to prove the occurrence or amount of loss, including where no damage occurs. The framework covers, among other elements, which variables may qualify as indices, the types of risks that may be insured through parametric policies, and characteristics required for deposited policy forms, aligning with Article 11 of the Insurance Act. Alongside this, the CMF amended General Rule No. 306 on technical reserves for non-pension insurance to adjust the treatment of technical reserves for earthquake-specific parametric contracts so that reserves reflect automatic index triggers, fixed insured sums, and binary payout structures, and to introduce methodologies for calculating the Earthquake Catastrophe Reserve and the Unearned Risk Reserve. Both measures incorporate feedback from public consultations conducted between September 16 and November 4, 2024, and between June 24 and July 25, 2025, and the CMF published a regulatory report summarising core elements and an impact assessment.

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