Requirements that Insurers Must Comply with for the Sale of Auto Parts

On August 11, the Argentine Superintendence of Insurance (SSN) issued Resolution No. 40,691 (the "Resolution"), in relation to the requirements that insurers must comply with for sale of scrap and/or auto parts of vehicles written off due to total loss. The Resolution has been in force since September 1.

In this respect, the Resolution established that  insurers can only sell the scrap and/or auto parts written off due to total loss to those who are registered in the  "Register of Automobile Junkyard and Related Activities, and / or in the  Registry of Verification of Auto-parts of the City of Buenos Aires, and/or in the   Registry of Verification of Auto parts of the Province of Buenos Aires, and/or in the different registries created for that purpose in other national and provincial jurisdictions.

This Resolution, in turn, incorporates subsection p) to Point 25.1.1.1. of the General Regulation of the Insurance Activity, which establishes that insurers must include the following warning on the first page of automobile insurance policies: "The insured vehicle must have the corresponding indelible engraving of the domain in certain parts of the car body as provided by the regulations of those jurisdictions in which the Resolution is mandatory. "

The Register of Automobile Junkyard and Related Activities was created in 2003 by Law 25,761, as a result of the development of government policies aimed at combating  crime associated with automobile-theft. This Resolution issued by the SSN is another measure in the fight against the illegal sale of auto parts.

Indelible engraving of the domain of auto parts is a mandatory requirement for cars that circulate in the City of Buenos Aires and the provinces of Buenos Aires, Córdoba and Mendoza.