16 March 2020 – Allowed insurers to offset payments due against amounts owed to policy beneficiary

Intervention Categories: Legal and policy; Regulatory change
Level of Jurisdiction: National

Overview: The The Superintendency of Banking, Insurance and Private Pension Fund Administrators (SBS) New power for insurance companies. They now have the power to offset premiums pending payment by the contractor and / or insured against compensation due to the insured or beneficiary of the insurance.
Full details here: https://www.sbs.gob.pe/Portals/0/jer/COVID19/OM_11159.pdf