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| INSURANCE NEWS No. 1 |
| February 15, 2017 |
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| Legislation |
| The Central Bank Regulates Insurance Sale |
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| Through two recent Communiqués, the BCRA established new requirements for distance trading insurance. |
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| The Reserves Regime Provided by the General Regulation on the Insurance Activity Was Amended |
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| The General Regulation on the Insurance Activity was modified by Resolution No. 40273/2017 of the Argentine Superintendence of Insurance with regard to the different claims reserves.
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Case Law |
| An Insurance Broker Was Held Jointly Liable for Breach of an Insurance Contract |
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| A ruling of the Commercial Court extended to the insurance broker the sentence imposed on an insurer for breach of an insurance contract. The insurance broker was considered to be a seller of the services of the insurance company and article 40 of the Consumer Protection Law, which establishes joint and several liability of the seller, was considered to apply. |
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| Statute of Limitations Applicable to Claims Under Consumer Insurance Contracts |
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| The Commercial Court reaffirmed that the limitation period of claims under consumer insurance contracts is one year. |
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Marval, O'Farrell & Mairal | www.marval.com
Copyright 2017 Marval, O'Farrell & Mairal. All rights reserved. |
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Pablo S. Cereijido
