{"id":42909,"date":"2025-07-14T00:00:18","date_gmt":"2025-07-14T06:00:18","guid":{"rendered":"https:\/\/garciabodan.com\/?p=42909"},"modified":"2025-09-29T17:31:53","modified_gmt":"2025-09-29T23:31:53","slug":"guatemala-new-rules-for-registration-of-insurance-intermediaries-and-adjusters","status":"publish","type":"post","link":"https:\/\/garciabodan.com\/en\/guatemala-new-rules-for-registration-of-insurance-intermediaries-and-adjusters\/","title":{"rendered":"Guatemala: new rules for registration of insurance intermediaries and adjusters"},"content":{"rendered":"<p><span data-contrast=\"auto\">In July 2025, the Regulation for the Registration of Insurance Intermediaries, Reinsurance Intermediaries, and Independent Insurance Adjusters came into effect in Guatemala. This regulation applies to both individuals and legal entities seeking to operate legally as insurance or reinsurance intermediaries, or as independent adjusters in the country.<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6}\">\u00a0<\/span><\/p>\r\n<p><span data-contrast=\"auto\">The new regulation introduces stricter requirements and stronger control mechanisms, with key highlights as follows:<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6}\">\u00a0<\/span><\/p>\r\n<p><b><span data-contrast=\"auto\">Mandatory electronic registration and automatic annual renewal<\/span><\/b><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6}\">\u00a0<\/span><\/p>\r\n<p><b><span data-contrast=\"auto\">All registration, update, and renewal processes must now be completed electronically<\/span><\/b><span data-contrast=\"auto\"> through the Superintendency of Banks\u2019 platform. For individuals, registration is valid for one year and <strong>will renew automatically<\/strong>, provided that the intermediary updates their documentation within 30 days prior to its expiration. <\/span><span data-contrast=\"auto\">For legal entities, registration expires in the month of their incorporation.<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6}\">\u00a0<\/span><\/p>\r\n<p>Failure to update within the specified time will result in the registration becoming inactive, although it can be reactivated by meeting the required conditions again.\u00a0<\/p>\r\n<p><b><span data-contrast=\"auto\">Proof of technical knowledge in insurance<\/span><\/b><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6}\">\u00a0<\/span><\/p>\r\n<p><span data-contrast=\"auto\">A key goal of the new regulation is to professionalize the sector. Intermediaries, their legal representatives, and anyone promoting or placing insurance on their behalf must demonstrate technical knowledge through at least one of the following:<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6}\">\u00a0<\/span><\/p>\r\n<ul>\r\n\t<li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"7\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"1\" data-aria-level=\"1\"><span data-contrast=\"auto\">A university degree in insurance or a related field.<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6}\">\u00a0<\/span><\/li>\r\n<\/ul>\r\n<ul>\r\n\t<li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"7\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"2\" data-aria-level=\"1\"><span data-contrast=\"auto\">A technical certification or diploma issued by an educational institution, insurance company, or specialized association.<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6}\">\u00a0<\/span><\/li>\r\n<\/ul>\r\n<ul>\r\n\t<li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"7\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"3\" data-aria-level=\"1\"><span data-contrast=\"auto\">Proof of at least five years of work experience with insurers, reinsurers, or as an intermediary.<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6}\">\u00a0<\/span><\/li>\r\n<\/ul>\r\n<ul>\r\n\t<li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"7\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"4\" data-aria-level=\"1\"><span data-contrast=\"auto\">A prior registration with the Superintendency as an intermediary for at least three years.<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6}\">\u00a0<\/span><\/li>\r\n<\/ul>\r\n<p><b><span data-contrast=\"auto\">Specific requirements for legal entities<\/span><\/b><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6}\">\u00a0<\/span><\/p>\r\n<p><span data-contrast=\"auto\">Legal entities applying for registration must fulfill several documentation and operational requirements, including:<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6}\">\u00a0<\/span><\/p>\r\n<ul>\r\n\t<li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"8\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"1\" data-aria-level=\"1\"><span data-contrast=\"auto\">Articles of incorporation and business license specifying insurance intermediation as the main activity.<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6}\">\u00a0<\/span><\/li>\r\n<\/ul>\r\n<ul>\r\n\t<li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"8\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"2\" data-aria-level=\"1\"><span data-contrast=\"auto\">Active contracts with insurance or reinsurance companies with which they maintain a commercial relationship.<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6}\">\u00a0<\/span><\/li>\r\n<\/ul>\r\n<ul>\r\n\t<li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"8\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"3\" data-aria-level=\"1\"><span data-contrast=\"auto\">Detailed information on partners or shareholders, including ownership percentages.<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6}\">\u00a0<\/span><\/li>\r\n<\/ul>\r\n<ul>\r\n\t<li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"8\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"4\" data-aria-level=\"1\"><span data-contrast=\"auto\">Appointment and registration of legal representatives.<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6}\">\u00a0<\/span><\/li>\r\n<\/ul>\r\n<ul>\r\n\t<li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"8\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"5\" data-aria-level=\"1\"><span data-contrast=\"auto\">Identification of all persons acting on behalf of the company as intermediaries, each of whom must meet the same knowledge and documentation requirements.<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6}\">\u00a0<\/span><\/li>\r\n<\/ul>\r\n<p><span data-contrast=\"auto\">Documentation must be submitted online, but requirements vary by intermediary type, so applicants should verify which apply to their specific case.<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6}\">\u00a0<\/span><\/p>\r\n<p><b><span data-contrast=\"auto\">Mandatory professional liability insurance<\/span><\/b><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6}\">\u00a0<\/span><\/p>\r\n<p><b><span data-contrast=\"auto\">Independent insurance agents, insurance brokers, and reinsurance intermediaries<\/span><\/b><span data-contrast=\"auto\"> must hold an active <\/span><b><span data-contrast=\"auto\">professional liability insurance policy<\/span><\/b><span data-contrast=\"auto\"> covering errors and omissions in the performance of their duties. This policy acts as a guarantee against damages caused to third parties due to negligence or technical mistakes. The insured amount will be set by the insurance or reinsurance company involved.<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6}\">\u00a0<\/span><\/p>\r\n<p><span data-contrast=\"auto\">This requirement applies to both individuals and legal entities, and is mandatory for registration and annual renewal.<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6}\">\u00a0<\/span><\/p>\r\n<p><b><span data-contrast=\"auto\">Supervision, suspension, and cancellation of registration<\/span><\/b><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6}\">\u00a0<\/span><\/p>\r\n<p><span data-contrast=\"auto\">The regulation establishes a <\/span><b><span data-contrast=\"auto\">clear<\/span><\/b> <b><span data-contrast=\"auto\">disciplinary framework<\/span><\/b><span data-contrast=\"auto\">, allowing the Superintendency to suspend or cancel registrations under specific conditions:<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6}\">\u00a0<\/span><\/p>\r\n<ul>\r\n\t<li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"10\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"1\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Suspension<\/span><\/b><span data-contrast=\"auto\">: May occur if the intermediary presents themselves as an insurance company, lacks an active contract (for independent agents), or commits serious infractions, as judged by the authority. <\/span><span data-contrast=\"auto\">During suspension, issuing new policies is prohibited, but commissions on existing business may still be collected.<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6}\">\u00a0<\/span><\/li>\r\n<\/ul>\r\n<ul>\r\n\t<li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"10\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"2\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Cancellation<\/span><\/b><span data-contrast=\"auto\">: Will apply in cases such as voluntary withdrawal, fraudulent documentation, manipulation of applications or medical exams, unauthorized offers, legal violations, or repeat offenses. Due process and the right to defense are guaranteed.<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6}\">\u00a0<\/span><\/li>\r\n<\/ul>\r\n<p><span data-contrast=\"auto\">If cancellation occurs due to a serious infraction, re-registration will not be permitted.<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6}\">\u00a0<\/span><\/p>\r\n<p><span data-contrast=\"auto\">Registrations active at the time the regulation took effect will remain valid until their expiration but must be renewed in accordance with the new requirements.<\/span><span data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6}\">\u00a0<\/span><\/p>","protected":false},"excerpt":{"rendered":"<p>In July 2025, the Regulation for the Registration of Insurance&#8230;<\/p>\n","protected":false},"author":8,"featured_media":42913,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[229],"tags":[],"class_list":["post-42909","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/garciabodan.com\/en\/wp-json\/wp\/v2\/posts\/42909","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/garciabodan.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/garciabodan.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/garciabodan.com\/en\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/garciabodan.com\/en\/wp-json\/wp\/v2\/comments?post=42909"}],"version-history":[{"count":3,"href":"https:\/\/garciabodan.com\/en\/wp-json\/wp\/v2\/posts\/42909\/revisions"}],"predecessor-version":[{"id":43086,"href":"https:\/\/garciabodan.com\/en\/wp-json\/wp\/v2\/posts\/42909\/revisions\/43086"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/garciabodan.com\/en\/wp-json\/wp\/v2\/media\/42913"}],"wp:attachment":[{"href":"https:\/\/garciabodan.com\/en\/wp-json\/wp\/v2\/media?parent=42909"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/garciabodan.com\/en\/wp-json\/wp\/v2\/categories?post=42909"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/garciabodan.com\/en\/wp-json\/wp\/v2\/tags?post=42909"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}