Insurance Claim Settlement Form Chile (Liquidación de Siniestro de Seguro)

The Insurance Claim Settlement Form Chile (Liquidación de Siniestro de Seguro) is the formal instrument through which an insurer and a policyholder document, quantify, and resolve a covered loss event under Chilean law. Governed primarily by DFL 251/1931 Article 3 and regulated by the Comisión para el Mercado Financiero (CMF) through its Norma de Carácter General NCG 124, this document records the occurrence of an insured event (siniestro), the scope of coverage under the policy, the valuation of damages, and the agreed indemnification payable to the insured party.

Chilean insurance law distinguishes between insurance of damages (seguros de daños) and personal insurance (seguros de personas), and the settlement procedure differs accordingly. For property and liability policies regulated under Título II of DFL 251/1931, a liquidador de seguros — a licensed professional registered with and supervised by the CMF under Circular 1.864 — must intervene in any claim exceeding UF 4 in value. The liquidador prepares a technical report (informe de liquidación) that forms the evidentiary basis of the settlement.

The Civil Code of Chile, specifically Articles 2446 through 2469 on transacciones (settlements), provides the overarching private-law framework governing the binding nature of claim settlements. Once both parties sign the liquidación, the agreement constitutes a transacción with res judicata effect under Article 2460 of the Civil Code, precluding subsequent judicial challenge on the same grounds.

The CMF Circular 1.501 and its successor instructions impose strict timelines: the insurer must appoint a liquidador within five business days of receiving the claim notice (aviso de siniestro), and the liquidation process must conclude within thirty calendar days for most property claims, extendable to sixty days for complex commercial losses. Failure to comply exposes the insurer to regulatory sanctions under Article 26 of DFL 251/1931, including fines assessed in UF.

For life and personal accident policies governed by Libro III of the Código de Comercio (Articles 512–601), the settlement process is more straightforward: the insured or beneficiary submits documentary proof of the insured event, and the insurer has fifteen business days under NCG 124 to pay or formally dispute the claim. Any dispute triggers mandatory arbitration before an árbitro arbitrador designated by the Centro de Arbitraje y Mediación de Santiago or the Cámara de Comercio de Santiago.

The Superintendencia de Valores y Seguros (SVS), now merged into the CMF under Ley 21.000/2017, historically published model settlement forms that remain the industry standard. The CMF continues to update these through its División de Seguros, and insurers must use CMF-approved formats for mandatory lines of coverage including the Seguro Obligatorio de Accidentes Personales (SOAP) regulated by DL 3.500/1980 and Ley 18.490/1986.

Forms-legal.com provides this Insurance Claim Settlement Form Chile template in compliance with current CMF regulatory requirements, enabling policyholders and insurers to document the resolution of a siniestro accurately and with full legal effect under Chilean insurance regulation.

A Liquidación de Siniestro de Seguro Chile becomes necessary whenever a policyholder files a formal claim under any insurance policy regulated by DFL 251/1931 in Chile. Common triggering events include fire or flood damage to residential or commercial property covered under a póliza de incendio (mandatory for mortgaged properties under Article 142 of Ley 18.101), theft or total loss of a vehicle under a póliza de automóviles, disability or death claims under a seguro de vida colectivo, and cargo damage claims under pólizas de transporte governed by the Código de Comercio Articles 1157–1206.

Employers must also initiate a formal settlement process when an employee suffers a workplace accident covered by the Seguro de Accidentes del Trabajo y Enfermedades Profesionales under Ley 16.744/1968, administered through SUSESO and the mutualidades (ACHS, IST, Mutual de Seguridad). The settlement documentation is required by the Servicio de Impuestos Internos (SII) when insurance indemnifications exceed UTM 35, as these payments may have income tax implications under Articles 17 N°1 and 17 N°3 of the Ley de Impuesto a la Renta (LIR).

In real estate transactions, mortgage lenders (bancos, cooperativas de ahorro y crédito regulated by la CMF and the DAES) require evidence of insurance settlement or active coverage as a condition for releasing mortgage obligations under Article 103 of the Ley General de Bancos (DFL 3/1997). When a property suffers partial damage, the settlement form documents the repair scope and confirms restored insurance value.

Condominium administrators managing copropiedades under Ley 21.442/2022 must complete formal settlement documentation whenever common areas suffer insured losses, as the fondo de reserva allocation and condominium insurance policy require documented claim resolution before disbursing repair funds.

Micro and small enterprises (MIPYMES) registered with SERCOTEC frequently require insurance settlement forms as evidence of business interruption losses when applying for emergency credit facilities or government aid programs coordinated through CORFO.

A properly executed Insurance Claim Settlement Form Chile under DFL 251/1931 and CMF NCG 124 must include the following essential components to have full legal force and evidentiary value.

Policy identification and coverage confirmation: The form must reference the exact póliza de seguros number, the insuring company's RUT and CMF registration number (número de inscripción en el Registro de Compañías de Seguros), the policy period, the insured sum (suma asegurada) in Chilean pesos (CLP) or Unidades de Fomento (UF), the type of coverage (incendio, robo, responsabilidad civil, vida, etc.), and any applicable deductible (deducible) expressed in UF or percentage of loss.

Siniestro description and date: A precise narrative of the insured event including date, time, and location of occurrence, circumstances triggering coverage, and any police report (parte policial), fire brigade report (parte de bomberos), or medical certificate (certificado médico) submitted as supporting documentation. The aviso de siniestro date and reception acknowledgment by the insurer must also be recorded.

Liquidador identification: Full name, professional license number (matrícula), and CMF registration details of the liquidador de seguros conducting the valuation, or a statement that the claim falls below the UF 4 threshold exempting mandatory liquidador involvement under CMF Circular 1.864.

Damage valuation and indemnification calculation: An itemized breakdown of losses (pérdidas), the method of valuation (valor actual, valor de reposición, or valor acordado), application of any coinsuance clause (cláusula de infraseguro under Article 556 of the Código de Comercio), deduction of depreciation (depreciación) and salvage value (valor residual), and the final indemnification amount in CLP or UF.

Settlement terms and payment method: The agreed payment modality — lump sum transfer (transferencia bancaria) to a specified cuenta corriente or cuenta RUT, repair-in-kind arrangement, or combination — along with payment timeline compliant with NCG 124 deadlines and any reservation of rights (reserva de derechos) clauses preserved by either party.

Subrogation rights: A clause confirming the insurer's right of subrogation under Article 553 of the Código de Comercio, whereby the insurer steps into the insured's legal position against responsible third parties up to the indemnification amount paid.

Tax and SII declarations: Confirmation of whether the indemnification constitutes taxable income under the LIR and whether a boleta de honorarios or factura exenta is required from the liquidador. Amounts exceeding UF 200 should reference the applicable SII resolution for insurance settlements.

Signatures and authentication: Signatures of the insurer's authorized representative (apoderado with valid RUT and poder notarial), the policyholder or legal representative, and the liquidador de seguros. Notarization at a Notaría authorized by the Ministerio de Justicia is recommended for claims exceeding UF 50 to ensure enforceability and admissibility before Chilean civil courts.

Forms-legal.com offers this CMF-compliant template to help both individuals and companies in Chile document insurance claim settlements accurately and in full conformity with DFL 251/1931 and current CMF regulatory circulars. Los usuarios de forms-legal.com pueden descargar este documento de forma gratuita en formato PDF o DOCX, completar los campos del formulario guiado y obtener un documento listo para firma.