April 6th, 2018, Santiago. - The deputy chairman of the Financial Market Commission (CMF), Rosario Celedón; along with the Intendant of Insurance, Daniel Garcia; will attend on behalf of the institution the XXXIX Annual Meeting of the Latin American Insurance Supervisors Association (ASSAL, for its Spanish acronym), which this year will take place on April 11th in Santo Domingo, Dominican Republic, where the activities carried out by the working groups during 2017 will be presented.
On the occasion, they will participate in the XIX conference on “Risk Analysis and Assessment in the Insurance Industry”, an activity organized by ASSAL and that will take place on April 9th and 10th. At the event, the deputy chairman of the CMF will do a presentation on “Catastrophes: Earthquakes and Floods” and will report the advances on the progress that the CMF has made to implement the lessons of the 2010 earthquake in Chile in terms of regulations, supervision of reinsurance and, recently the issuance of the catastrophic bond of the Pacific Alliance alongside with the World Bank.
At the same time, the Intendant of Insurance, will present on Market Conduct, in relation to the regulations on this topic issued by the CMF in 2017.
Furthermore, the CMF will participate on April 12th in the “High level meeting on global standards and supervisory priorities in insurance in the Americas”, organized by ASSAL together with the International Association of Insurance Supervisors (IAIS) and the Financial Stability Institute (FSI) of the Bank for International Settlements (BIS), where the institutional change of the CMF will be explained in terms of adapting supervisory structures to developments in the insurance market.
At the same time, the representatives of the CMF will hold bilateral meetings with the IAIS, the National Association of Insurance Commissioners (NAIC) and, the Organization for Economic Cooperation and Development (OECD) to get to know the regulatory agenda and ongoing initiatives.