Basics of Buying Insurance in Mexico

The process of obtaining insurance for risks located in Mexico is regulated by Mexican law which arguably protects the local market and prohibits assureds to buy insurance directly from non-Mexican insurers and to use non-Mexican insurance brokers. Foreign reinsurers can provide cover if they are registered and authorised by the Mexican authorities and provided that the procedure followed complies with the local regulations. Below we explain this process in some detail, we also explain the requirements that need to be complied with under the anti- money laundering regulations.