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ARTICLES

LEGAL RESOURSES

Exchange rate:

$ 16.87

    • ARTICLE 30:

    The mutual insurance institutions and societies, as well as the establishments that, according to the provisions of the General Law of Insurance Institutions and Mutual Societies (Ley General de Instituciones y Sociedades Mutualistas de Seguros), must be subject to the inspection and surveillance carried out by the National Insurance and Bonding Commission (Comisión Nacional de Seguros y Fianzas), must pay rights under the following:

  • 80% of the budget for inspection and surveillance expenses will be prorated in relation to the premiums issued for direct and reinsurance insurance taken by the institutions during the last twelve months prior to the calculation date.

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    For this purpose, 100% direct insurance premiums and 25% reinsurance premiums will be computed, either by institutions specializing in reinsurance or direct insurance that take reinsurance.

     

  • The remaining 20% ..will be divided equally among all insurance institutions and mutual societies.

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    In the event that the inspection fee set to any insurance institution exceeds 3% of the base used for its determination in accordance with section I of this article, the surplus will be prorated equally among the other institutions.

     

    Mutual societies will pay the inspection and surveillance fees calculated in relation to the premiums issued, without exceeding 1% of their administrative expenses.

     

    The rights referred to in the previous sections will be paid by advanced monthly payments.

     

  • The controlling companies of financial groups ............. $ 750,527.00 annually.

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  • Each complementary services company that is part of financial groups whose controlling companies are under the supervision of the National Insurance and Bonding Commission (Comisión Nacional de Seguros y Fianzas) .............. $ 40,938.00 per year.

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  • For the inspection and surveillance services provided to reinsurance intermediaries ....................................... $ 9404.00 per month.

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  • For the inspection and surveillance services provided to the representative offices of foreign reinsurers .................................. $ 5,643.00 per month.