CMF publishes for consultation regulation precising constitution of claim reserves for surety, first demand guarantee policies

October 9, 2026 - The Financial Market Commission (CMF) published for consultation until October 23, 2026 a regulatory proposal precising the criteria to estimate claim reserves for surety or first demand guarantee insurance policies set forth in Article 538 of the Code of Commerce.

The proposed amendment states that companies must constitute claim reserves for the total amount demanded for these types of policies without exceeding the insured amount.

Interested parties can access the Regulations Under Consultation section of the CMF website to review the proposal in detail.