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Even if the insured losses from the Chile earthquake fall in the mid-range of current estimates of between US$ 2 billion and US$ 8 billion, it will outpace Hurricane Wilma as the most expensive insured event in Latin America’s history, according to a release by reinsurance broker Cooper Gay.

Earlier this year, a Chilean court found an insurance broker liable to an insurance beneficiary for failing to obtain the insurance coverage requested, which led to the insurer denying the beneficiary's claim for disability benefits.

On January 26th, 2016, Law N°20,894 was published in the Official Gazette. This law postpones enforcement of the mandate that would require independent employees to pay social security contributions.

Uría Menéndez in Madrid and its sister firm Philippi Prietocarrizosa & Uría (Chile) has helped Spanish insurer Mutua Madrileña Automovilista buy a stake in the insurance businesses of Chilean bank Banco de Credito e Inversiones.