Regulatory Alerts2015-05-20 | JB-2015-3422Banking Board Resolution JB-2015-3422
The Banking Board of Ecuador issued Resolution JB-2015-3422 to rule on an administrative appeal filed by Marco Raúl Mantilla Andrade against Bolívar Compañía de Seguros del Ecuador S.A. regarding the denial of a vehicle insurance claim. The Board revoked the previous rejection of the claim, determining that the insurer failed to legally prove the insured was speeding at the time of the accident. Consequently, the Board ordered the insurance company to pay the agreed policy value to the insured within fifteen days.
Share