circular

Circular 1/2023, de 30 de agosto, de la Dirección General de Seguros y Fondos de Pensiones, relativa al uso obligatorio de medios electrónicos para la práctica de comunicaciones y notificaciones con los mediadores de seguros, corredores de reaseguros y determinados mediadores de seguros complementarios.

ID 24984

Circular 1/2023 issued by the Directorate General of Insurance and Pension Funds, introduces a new requirement for insurance intermediaries, including individuals, to use electronic means for their communications and notifications with the authorities.
While legal entities (legal persons) in the insurance sector were already obligated to communicate electronically with the supervisory authority, this circular extends the same requirement to individual insurance intermediaries (natural persons) except for specific procedures defined by the law.
It’s important to note that the content of this circular is non-basic and applies only to intermediaries under the supervision of the Directorate General of Insurance and Pension Funds.
The effective date of the circular is set to be twenty days after its publication in the BOE, in accordance with legal provisions. This move towards electronic communication is expected to streamline administrative processes and enhance financial supervision and protection for policyholders.

Other Features
digitisation
insurance
notifications
pension funds
process
supervisory practices
Date Published: 2023-09-19
Regulatory Framework: Insurance Distribution Directive (IDD)
Regulatory Type: circular
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