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DOF: Endorsement of Bond Agent Certificate

DOF: 27/03/2020
Amending SECONDARY REGULATION 4/20 from the Insurance and Surety Secondary Regulation.

At the margin a seal with the Coat of Arms, which reads: Mexican United States.- TREASURY.- Ministry of Finance and Public Credit.- National Commission on Insurance and Sureties.
AMENDING SECONDARY REGULATION 4/20 INSURANCE AND SURETY SECONDARY REGULATION
(Eightieth Transitory Provision)
The National Commission on Insurance and Sureties, pursuant to provisions under articles 366, section II, 372, sections VI, XXII and XLII, 373 and 381 of the Law on Insurance and Surety Institutions and,
WHEREAS

That in accordance with the first paragraph of Article 15 of the Regulation for Insurance and Bond Agents and Provisions 32.4.2. and 32.7.1. of the Insurance and Surety Secondary Regulation, the authorizations of the agent (individual) and the agent’s proxy
of a corporation must be endorsed every three years and will be granted, provided that the requirements set forth in the aforementioned Regulation and the Provisions herein are met. For this purpose, the Agents (Individual) and Proxy’s Agents
of a corporation must prove their technical expertise before the Commission through an exam made by the Commission or by the corporation appointed for such purpose by the first.

Pursuant to the last paragraph of the aforementioned Article 15 of the Regulation for Insurance and Bond Agents and Provision 32.4.1. of the Insurance and Surety Secondary Regulation, the authorizations of the Agent (Individual) and the Agent’s Proxy
of a Corporation must be endorsed within the sixty calendar days prior to the expiration date, at the request of the stakeholder, or by the Companies in the case that there is an Agent (Individual) who has a
working relationship with them or in the case of authorizations for Categories G and M referred to in sections XI and XIII of Provision 32.3.6.

That the World Health Organization declared last March 11, 2020, coronavirus COVID-19 to be a global pandemic. Along these lines, on March 23, 2020, the agreement was published in the Federal Official Gazette by which the
General Health Council acknowledged the COVID-19 coronavirus disease epidemic as a serious disease deserving urgent attention.

That the Ministry of Health recommended within the framework of the National Day of Social Distancing, to suspend temporarily those non-essential activities which involve the congregation or mobility of people.

Due to the foregoing, this Commission has resolved to issue the following amendment to the Insurance and Surety Secondary Regulation in the terms specified below:

AMENDING SECONDARY REGULATION 4/20 INSURANCE AND SURETY SECONDARY REGULATION
(Eightieth Transitory Provision)

SOLE.- The Eightieth Transitory Provision is added to the Insurance and Surety Secondary Regulation, to read as follows:
EIGHTY. – The term for the endorsement of the authorization of an Agent (Individual) or Agent’s Proxy of a Corporation referred to in article 15, last paragraph, of the Regulation for Insurance and Bond Agents and Provision 32.4.1 in the
Insurance and Surety Secondary Regulation is suspended until further notice. The authorizations that need to be endorsed during said suspension period will continue in force until this Commission does not issue the corresponding notice.

TRANSITORY

SOLE.- This Amending Secondary Regulation will come into effect the day following the publication thereof in the Federal Official Gazette.
The foregoing pursuant to articles 366, section II, 372, sections VI, XXII and XLII, 373 and 381 of the Law on Insurance and Surety Institutions.

Sincerely,
Mexico City, March 26, 2020.- The Chairman of the National Commission on Insurance and Sureties, Ricardo Ernesto Ochoa Rodriguez.- Short Signature.

 

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