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Tag Archives: Insurance and Bonding Companies Law

Posted in Latin America, Regulatory and legislative updates

Mexico: Surety insurers prepare to commence operations

Two years after the Insurance and Bonding Companies Law was enacted, surety insurance is finally starting to take effect in Mexico and coexist with other institutions that integrate the bonding sector. In Mexico, surety insurance is regulated as a mechanism to guarantee obligations, under which an insurer must indemnify the insured (ie, the beneficiary) in

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