Claims handling in Chile

Loss adjusting activities in Chile are controlled by the Financial Market Commission (CMF), under the legal framework set out in DL 1055, which came into force on the 1st June 2013. Introduced in the aftermath of the February 2010 earthquake, it was designed to improve claims handling, mainly by expediting the loss adjusting process and providing the insured with better information on the progress of the adjustment. Patrick Hardy outlines some important considerations for reinsurers. Download the article to find out more…