Regulatory Alerts2015-04-15 | JB-2015-3361Added · Updated
Banking Board Resolution JB-2015-3361
The Banking Board of Ecuador issued Resolution JB-2015-3361 to reject the appeal filed by José Luis Romo-Rosales, General Manager of Seguros Sucre S.A., against a $500 fine imposed by the Portoviejo Regional Intendancy. The Board confirmed the penalty because the insurance company failed to provide requested documentation regarding a vehicle policy and an administrative claim, constituting a clear violation of the General Insurance Law. The resolution mandates that any future refusal to comply with Superintendence instructions will result in progressively more severe sanctions.
More like this from SB
We email you every new SB publication the day it's published.
Topics
Share