Regulatory Alerts2015-04-22 | JB-2015-3379Banking Board Resolution JB-2015-3379
The Banking Board of Ecuador issued Resolution JB-2015-3379 to reject an appeal filed by the legal representative of the Committee of Claimants for the survivors of Tame Flight 148. The Board confirmed the administrative act stating that the claimants lack direct legal action against the insurer, QBE Seguros Colonial S.A., because the policy covers the airline's civil liability rather than providing third-party coverage. Consequently, the administrative claim for damages must be filed by the insured party, TAME E.P., in its capacity as the insured under the aviation hull policy.
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