Regulatory Alerts2015-06-24 | JB-2015-3498Resolution No. JB-2015-3498 of the Banking Board of Ecuador
The Banking Board of Ecuador rejected an administrative appeal filed by the General Manager of Empresa Eléctrica Pública de Guayaquil EP regarding a dispute with Alianza Compañía de Seguros y Reaseguros S.A. over machinery breakdown and business interruption insurance claims. The Board ratified the previous rejection of the claim, determining that the insurer's liability was limited by policy deductibles and that the complex technical calculations regarding lost profits required judicial or arbitral intervention rather than administrative resolution. Consequently, the claimant's right to pursue legal action or commercial arbitration was preserved.
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