The Digital Policy System

In order to increase the efficiency and competitiveness of the insurance system, on November 29, 2011, the Argentine Superintendence of Insurance (“SSN” after its acronym in Spanish) issued Resolution No 36,326 (the “Resolution”), creating the Digital Policy System (the "System").

The main purpose of the System is to validate insurance contract clauses and control the policies underwritten in the country.

By December 1, 2011, insurers authorized to operate in Motor and Public Transport of Passengers insurance must comply with all necessary proceedings to implement the System.

As from January 1, 2012, all insurance companies authorized to operate in the referred lines of business will have to be operating through the System.

Subsequently and gradually (the Resolution does not specify a date), the System will be implemented in the rest of the lines of business for all insurance companies.

Insurers will have to report to the SSN the details of the users who will operate the System on their behalf and upload this data on line.

The underwriting and policy amendments will be managed through the specific website established by the SSN (https://polizadigital.ssn.gob.ar).

Among other things, the System will allow both insurers and insureds to consult if their policies comply with SSN specifications.