CMF sanciona a compañía de seguros por comercializar pólizas a través de agentes no inscritos

UF 50 for distributing insurance through 18 unregistered sales agents and one broker whose registration had been cancelled. The conduct spanned June 2022 to February 2026, breaching Articles 57 and 58 of the Insurance Law (DFL N°251) and NCG N°471. For compliance teams, this is a clear reminder that insurer responsibility for intermediary registration is continuous, not just at onboarding.

Firms should treat CMF registry validation as a control, not an administrative step. Immediate actions: reconcile all current agents, brokers and distribution partners against CMF registers; suspend or remediate any unregistered or cancelled intermediaries; strengthen onboarding and periodic re-verification, ideally automated with registry data; maintain evidence of checks, contracts, training and termination triggers. The relatively modest fine does not reduce the reputational, supervisory and remediation burden: repeated or systemic failures can escalate.

Smaller insurers with manual processes are most exposed, but all insurers using external distribution should review. Opportunity: firms that embed robust registration monitoring and clean distribution governance can differentiate in partner selection, reduce conduct risk and respond faster to CMF expectations. RegCanary view: expect continued CMF focus on insurance distribution conduct and registry integrity.