"To obtain a consumer credit need not take insurance or employ other services. "
SBIF definitely settled by compulsory insurance struggle related to consumer loans.
Through Circular 3331, dated August 22, the Superintendency of Banks and Financial Institutions, www . sbif.cl , identified a number of requirements and standards that institutions under its supervision must comply from 1 January 2006.
The text regulates "information to be provided on consumer loans that include supply insurance.
says that "banks to offer their consumer loans to customers which is associated with the purchase of insurance should comply with the following provisions:
1 .- Information to be provided.
1.1 .- Information on credit terms.
The banks must submit to those interested in obtaining a consumer credit, a written estimate which must include at least the following information:
a) amount and term of credit;
b) currency of the quotation;
c) rate annual interest;
d) frequency of assessments;
e) the amount of each installment;
f) details of the costs paid by the customer, such as notary fees and stamp duty and,
g) the amount of insurance premium, where applicable.
should be further included in the rate to be delivered to the applicant, the following legend: "To obtain a consumer credit insurance is not necessary to take hire or other services."
1.2 .- Settlement of credit.
settlements in the credits taken should be reported separately, in a clear and precise, each of the amounts collected by the different concepts that are deducted from the amount of the transaction. 1.3 .- Proposed
insurance.
The offer insurance related to consumer credit must be made by a written proposal to be delivered to stakeholders. That proposal must comply with all instructions issued by the Superintendency of Securities and Insurance in this area and formulated in a separate and independent from credit application. 1.4 .- Information
value of the premiums and insurance conditions.
banking institutions that offer credit insurance associated with a consumer should keep current on its website information on the value of the premium, shape or form of payment and the principal terms of such insurance. This information should be on the website of the institution, a location easily accessible to the public and be associated with the product.
1.5 .- Information on the insurance contract.
in the payment coupons, statements or other related instruments with service credit, whether they are printed on paper or electronic report must be inserted a caption indicating the name of the insurance company issuing the respective policy. 2 .-
reception and channeling of documents relating to the denouncement of a disaster.
banks receive either the denouncement of a loss or documents to proceed with their investigation, must leave a written record of the date of receipt of the complaint or the documents that have been delivered, as applicable. Such records shall be kept in the background folder of the operation concerned and a copy thereof shall be returned to the debtor or secured.
3 .- Information on the status of the Collection of insurance.
When the bank through which the insurance was contracted to receive a complaint in order to enforce the insurance contract, must provide to policyholders or beneficiaries of insurance and care information, according to the instructions of the Superintendency of Securities and Insurance, the insured must provide insurance companies or their agents.
4 .- Application disencumbrance insurance.
In the case of prepayment of any amount under disencumbrance insurance that protects him, there is no prepayment charge the commission referred to in Article 10 of Law No. 18,010. 5 .- Return
de prima por prepago o renegociación de créditos en seguros a prima única.
En caso de extinción o disminución de deudas por prepago o renegociación, a las cuales se encuentren asociados seguros a prima única, se deberá proceder a su devolución de acuerdo a las instrucciones impartidas por la Superintendencia de Valores y Seguros.
6.- Vigencia de estas instrucciones.
Las instrucciones de la presente circular rigen para las contrataciones de seguros que se hagan a partir del 1 de enero de 2006, sin perjuicio de que las disposiciones de los números 1.5; 2; 3 y 4 se apliquen, cuando así sea pertinente, respecto de los seguros contratados con anterioridad a esta fecha."
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