Insurance and Bonds Memorandum

Insurance and Bonds Memorandum

In compliance with the provisions of the Insurance and Bonds Memorandum that became effective on April 4, 2015, PROTEC, AGENTE DE SEGUROS Y DE FIANZAS, S.A.P.I. DE C.V. (hereinafter referred to as "PROTEC" or "we") informs you of the following information regarding its activity as an Insurance and Bond Agent:

  • Under no circumstances PROTEC may accept money or any consideration from users and/or clients, which comes from activities or services that are not authorized by the National Insurance and Bond Commission (“C.N.S.F.”) and/or contemplated in its corporate purpose.
  • Under no circumstances PROTEC may offer provisional, informal or personal receipts regarding the payment of the premium or that may compromise the rendering of PROTEC services.
  • Under no circumstances PROTEC may receive advance payments for the contracting of insurance, a bond, or additional coverage.
  • PROTEC carece de facultades para aceptar riesgos, suscribir o modificar pólizas, ya que no es una Aseguradora, Afianzadora ni Agente Mandatario.

Given that one of PROTEC's responsibilities consists of advising to enter into, maintain or modify insurance and/or bond contracts, according to the best interest of our clients, and with the purpose of strengthening transparency in the exercise of our intermediation activities, PROTEC informs you of the following:

  • PROTEC has the proper authorizations issued by the C.N.S.F, to broker insurance and/or bonds through its Representatives, who will identify themselves to you with their full name, type of authorization, number and validity of their license.
  • PROTEC carries out intermediation activities for Insurance and/or Surety Institutions authorized by the C.N.S.F., which can be consulted at the following link:
  • For the delivery of service proposals, an evaluation of your insurance and/or bonding needs will be made, based on an analysis of your profile and risk aversion.
  • In the proposal that is delivered to you, you will be informed of the data of those Insurers and/or Bonding Companies that PROTEC has taken into consideration to issue said quote, as well as the most relevant conditions, exclusions, risks, benefits, obligations and rights , so that you have the necessary elements to adequately evaluate the different products offered.
  • PROTEC will provide you with the necessary information so that you can consult the text of the contract that was suggested to you, before formalizing it.
  • PROTEC has Civil Liability Insurance for errors and omissions, to guarantee compliance with the responsibilities that it may incur due to its activities as an Agent.

Once the coverage request has been accepted, PROTEC will deliver the following documentation and/or information:

  • Information on the actual scope of the contracted coverage, how to keep it, as well as the forms of termination of the contract.
  • The cover page corresponding to the purchased policy.
  • The general conditions and other documentation related to the insurance and/or the bond contracted.
  • The receipt issued by the corresponding Insurance or Bonding Institution, so that you can make the payment of the premiums, clearly explaining the elements that it must contain for its full validity.
  • The Brochure of the Basic Rights of Contracting Parties, Insured Parties and Beneficiaries issued by the Insurer in relation to the insurance specifically contracted.

In the process after the sale of insurance and/or bond products, PROTEC as your Agent:

  • Will monitor the changes in your risk profile, in order to provide you, where appropriate, advice or recommendations to adapt your coverage to said changes.
  • Will provide you with any relevant information regarding the evolution of the policy you have purchased.
  • Will support you in the claim process or possible complaints before the Insurers and/or Bonding Companies.

Por último, le recordamos que usted como contratante:

  • You must verify that the documentation agrees with your request and that said documentation contains, where appropriate, the registration of the product before the C.N.S.F.
  • You can verify on the C.N.S.F. website:
    1. The data of the authorization and license of PROTEC as Agent.
    2. The sanctions that, where applicable, the C.N.S.F. may have been imposed to PROTEC.

For more information, consult your Account Executive at PROTEC.