Regulatory Alerts2015-04-30 | JB-2015-3394Added · Updated
Banking Board Resolution JB-2015-3394
The Banking Board of Ecuador annulled a regional superintendent's decision that had rejected a life insurance claim due to late notification. The Board ruled that the insurer, Coopseguros, violated regulatory circulars by failing to include the mandatory two-year notification limit for beneficiaries in the policy terms. Consequently, the Board ordered the insurer to pay the USD 20,000 death benefit to the beneficiary within fifteen days.
More like this from SB
We email you every new SB publication the day it's published.
Share