Regulatory Alerts2015-04-01 | JB-2015-3335Resolution No. JB-2015-3335 of the Banking Board of Ecuador
The Banking Board of Ecuador issued Resolution No. JB-2015-3335 to reject an appeal filed by Yulio Vicente Cassagne Torres against Bolívar Compañía de Seguros del Ecuador S.A. regarding a denied vehicle insurance claim. The Board confirmed the lower authority's decision to uphold the insurer's objection, which was based on the driver operating the vehicle with an expired license and committing traffic infractions. This ruling validates the insurer's exclusion of liability under the policy's general conditions and applicable transport laws due to the driver's failure to possess a valid license at the time of the accident.
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