Consumer Protection In Insurance

A new insurance law which is under discussion in the Legislative Assembly provides for the creation of a Consumer Ombudsman's Office for Insurance.

Tuesday, October 4, 2011

This unit, within the Superintendency for Insurance, is responsible for representing insurance consumers from the public, creating guidelines for protection and providing legal representation when necessary.

"It stipulates, for example, that all insurers licensed for supllying general lines to people, have a management system according to their activities, which is responsible for being aware of and addressing, in a personalized way complaints and disputes arising from its relationships with consumers .

With regard to contracts, those that restrictthe rights of the insured, and which unreasonable or disproportionately favor the position of representing companies or contain waiver or restrictions of client rights are considered to be abusive and will result in the contracts being declared invalid", reported

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