Regulatory Alerts2021-05-28 | CD-SIBOIF-1250-1-MAY28-2021Norm for the Attention, Processing and Compensation of Losses Foreseen in Insurance Contracts
The Superintendence of Banks and Other Financial Institutions issued Resolution No. CD-SIBOIF-1250-1-MAY28-2021 to establish binding principles, procedures, and deadlines for the handling of insurance claims in Nicaragua. The regulation mandates strict adherence to principles of celerity, objectivity, and transparency, while defining specific operational requirements for material damage and personal injury claims. It further imposes rigorous timelines for investigations, repairs, and indemnity payments to protect consumer rights and ensure efficient dispute resolution.
Share