The National Commission for the Protection and Defence of Users of Financial Services (CONDUSEF) recently amended the General Provisions for the Registry of Insurance Adhesion Contracts (for further details please see "CONDUSEF issues rules for registration of adhesion contracts") in order to specify which additional documents must be:
- included in the contractual documentation of insurance adhesion contracts; and
- registered before the National Insurance and Bonds Commission (CNSF) and CONDUSEF through the Registry of Adhesion Insurance Contracts (RECAS).
Insurers must register insurance adhesion contracts that they offer to the general public with the CNSF and CONDUSEF. Registration with CONDUSEF must be done through RECAS via the web portal.
RECAS aims to inform the general public of the terms and conditions of insurance adhesion contracts, which are included in the contractual documentation of said contracts. RECAS allows customers to review and compare the terms and conditions offered by different insurers.
The recent amendment to the General Provisions for the Registry of Insurance Adhesion Contracts requires insurers to include the following as part of the contractual documentation that must be registered before the CONDUSEF through RECAS (if it is a life or accident and health group insurance policy):
- the individual consent form that an insured must sign; and
- the individual certificates that the insurer must issue.
In addition, insurers that conduct health insurance business must register:
- the required explanatory brochure of medical services;
- the contracted benefits; and
- the available medical clinics and hospitals.
Therefore, following the amendment, the contractual documentation for insurance adhesion contracts that must be registered with CONDUSEF through RECAS includes:
- the policy application;
- the policy cover;
- the policy's general and special conditions; and
- a brochure containing the basic rights of the contracting party, the insured and the beneficiaries.
Insurers that conduct health insurance business must also include:
- the required explanatory brochure of medical services, contracted benefits and available medical clinics and hospitals;
- any endorsements;
- the individual consent form; and
- the individual insurance certificates.
Registration is required before the insurance adhesion contracts can be offered to the general public.
Insurers must comply with this amendment before 19 September 2018 by including the following in the contractual documentation of their insurance adhesion contracts registered before the CONDUSEF through RECAS:
- the individual consent form;
- the individual insurance certificates; and
- the required explanatory brochure for their health line of business, if necessary.
For further information on this topic please contact Carlos Ramos Miranda at Hogan Lovells BSTL by telephone (+52 55 5091 0000) or email (email@example.com). The Hogan Lovells website can be accessed at www.hoganlovells.com.
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