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Posted in Latin America, Regulatory and legislative updates

Mexico: Special fund requirements clarified

The Ministry of Finance and Public Credit recently issued a ruling interpreting the requirement to establish special funds under the Insurance and Bonding Companies Law. Article 274 of the law requires life, personal accident, medical expense, health, civil and professional liability, maritime and transport, fire, agricultural, automobile, catastrophic and diverse risk insurers to establish special funds, in an attempt to create another layer of security for insureds.

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