CMF sanctions insurance company for selling policies through unenrolled agents

October 6, 2026 - The Board of the Financial Market Commission (CMF) sanctioned Seguros de Vida Suramericana S.A. with a UF 50 fine.

Per Resolution No. 10,681, between June 2022 and February 2026 said company sold insurance both through 18 sales agents that were not enrolled in the Registry of Insurance Sales Agents, and an insurance broker whose listing in the Registry of Insurance Trade Auxiliaries had been cancelled. This breaches both Articles 57 and 58 of Decree with Force of Law No. 251 (Insurance Law) and General Rule No. 471.

Insurance companies are mandated to check in the public Registry whether parties acting as brokers or sales agents are effectively enrolled in the pertinent Registry and authorized to market insurance, which did not happen in this case.