By means of a recent legal opinion, the Financial Superintendency of Colombia (“SFC”) made important considerations regarding the regulation of microinsurance in Colombia: General regulatory framework Microinsurance does not have...
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What does the SFC say about microinsurance in Colombia?
June 20, 2025What does the SFC say about parametric insurance in Colombia?
By way of a recent legal opinion, the Colombian Superintendency of Finance (“SFC”) issued its views on the regulation applicable to parametric insurance in Colombia. Below is a summary of...
June 18, 20252025 Latin America Reinsurance Playbook: Key Regulatory Benchmarks for Market Access
Expanding your reinsurance operations into Latin America is a highly attractive opportunity. To support your market entry, this report provides a detailed comparison of the registration, licensing, and reporting requirements...
June 2, 2025Insuralex Latin America meet the London Market 2025
Insuralex Latin America meet the London Market 2025 An important delegation of Insuralex Latin America members will visit London on June 2nd and 3rd, 2025. The objective is to present...
April 29, 2025Limitations on Surety Bond Coverage for Structural Stability Defects
By means of a recent arbitral award published in 2025, an arbitral tribunal in Colombia (hereinafter, the “Tribunal”) settled a dispute between (i) a contracting company, insured and beneficiary under...
April 15, 2025Limitations on performance bond coverage for wages and benefits
In a recent 2025 ruling, the Colombian Supreme Court of Justice (hereinafter, the “Court”) issued a decision on the scope of coverage for salaries and social benefits under surety bonds...
March 31, 20252025 Taxation on reinsurance premiums Latin America
The world’s main reinsurance markets typically provide their services on a cross-border basis for Latin American cedants, given the limited reinsurance capacity within the region compared to the demand from...
March 27, 2025No indemnification without proof of liability in non-contractual civil liability insurance
On February 26, 2025, the Colombian Supreme Court of Justice issued ruling STC2174-2025, upholding a decision by the Superior Tribunal of Bogotá regarding a constitutional remedy filed against the Colombian...
March 26, 2025Work stability coverage and exclusion of lack of maintenance
The Colombian Council of State recently issued a ruling reinforcing contractor liability for structural defects in public works projects, even after contract settlement. The case involved a temporary joint venture...
March 12, 2025Council of State ruling on liability insurance and statute of limitations
On February 3, 2025, the Colombian Council of the State issued a ruling (Case No. 68001-23-33-000-2016-00649-0) on an appeal filed by a regional hospital, insured under a civil liability insurance,...
March 10, 2025Colombian Regulator Warns Insurer Over Misleading “All-Risk” Insurance Label
On January 16, 2025, the Colombian Financial Superintendency (the “SFC” for its acronym in Spanish) issued a warning to an insurance company for violating consumer protection regulations by offering a...
February 24, 2025Colombian Council of State Defines Statute of Limitations for Insurance Claims in Fiscal Liability Proceedings
On November 28, 2024, the Colombian Council of State upheld a ruling that annulled the inclusion of an insurer as a civilly liable third party in a fiscal liability proceeding...
February 19, 2025Employer´s liability coverage in civil liability insurance
This piece delves into a recent ruling by the Colombian Supreme Court (SL015-2025), which addresses the employer’s liability coverage under a civil liability insurance. The case involves the death of...
February 17, 2025Colombian Council of State upholds enforcement of regulatory surety bonds (Insurance)
In its ruling of December 5, 2024 (Case No. 25000-23-24-000-2010-00132-01), the Colombian Council of State (hereinafter, the “CS”) upheld the authority of the Superintendence of Industry and Commerce (hereinafter, the...
February 10, 2025Colombian supreme court reaffirms insurer´s obligation in survivor´s pensions
This piece explores a recent ruling by the Colombian Supreme Court confirms that when a pension fund takes out insurance to cover shortfalls in survivor’s pensions, the insurer must automatically...
February 4, 2025Insuralex´s former president Lucas Fajardo awarded as “Insurance Lawyer of the year”
We at Insuralex are thrilled to share that Lucas Fajardo, partner at Brigard Urrutia (Insuralex Exclusive Member in Colombia) and leader of its Insurance and Reinsurance team, has been awarded...
January 27, 2025Statute of limitations for claims under SOAT
Overview: In its ruling SC3075-2024, dated December 19, 2024, the Supreme Court of Justice (“SCJ”) addressed a dispute between a medical clinic and an insurer concerning the denial of indemnity...
January 22, 2025Insurance exclusions must be clearly highlighted
On December 13, 2024, the Civil, Agrarian, and Rural Chamber of Colombia’s Supreme Court of Justice (“CSJ”, by its acronym in Spanish) issued ruling AC6958-2024, rejecting a cassation appeal filed...
January 14, 2025Termination of Insurance: Unilateral Revocation and Non-Payment
The Colombian Supreme Court of Justice (the “Court”) addressed a dispute between (i) a policyholder under an all-risk insurance policy and (ii) the insurer. The issue arose from the interpretation...
January 3, 2025Loss of profits coverage due to machinery breakdown and the “stock acumulation” clause
Summary of Arbitral Award 142820 (September 9, 2024) An arbitration tribunal of the Bogota’s Chamber of Commerce resolved a dispute between an insured company (policyholder) and an insurer under a all-risk...
December 19, 2024The insurable interest in transport insurance
Among the most recent updates in insurance and reinsurance law in Colombia, particular attention has been given to a recent ruling by the Civil Chamber of the Supreme Court of...
December 2, 2024Insuralex´s Latin American members awarded by Chambers
Insuralex is glad to announce that an important number of its Latin American members have been awarded by Chambers Latin America. The Chambers Latin America Awards 2024 are the awards...
November 26, 2024Webinar FIDES & Insuralex: 2024 Insurance regulatory update in Latin America
FIDES (Federación Interamericana de Empresas de Seguros) in collaboration with Insuralex are glad to present the New Edition of the Report on Insurance Regulatory Matters. Program: (Miami 9:30h, Madrid 15:30h,...
November 21, 2024Photos: Launch of the New Edition of the Report on Insurance Regulatory Matters
FIDES (Federación Interamericana de Empresas de Seguros) in collaboration with Insuralex organized the launch of the New Edition of the Report on Insurance Regulatory Matters. Hosted by Estudio Carvallo (Insuralex´s...
November 7, 2024Launch of the New Edition of the Report on Insurance Regulatory Matters
FIDES (Federación Interamericana de Empresas de Seguros) in collaboration with Insuralex are glad to announce the launch of the New Edition of the Report on Insurance Regulatory Matters. Topics include:...
October 22, 2024Learn about the most critical trends shaping the Colombian insurance industry in 2025!
Our exclusive member in Colombia, Brigard Urrutia, and Asociación Insurtech Colombia are thrilled to invite you to an in-person event tackling the most critical trends shaping the insurance industry in 2025. 📅 Save...
October 17, 2024Save the date: 2024 Insuralex Chile Latin American Meeting
Save the date! Insuralex is pleased to announce the 2024 Insuralex Chile Latin American Meeting. Hosted by Estudio Carvallo (Insuralex´s Exclusive Member in Chile), the 2024 Insuralex Chile Latin American Meeting will...
August 26, 20242024 Parametric Insurance in Latin America: Update
Insuralex is pleased to present this executive report updated to the year 2024 on some of the most important topics of how insurance markets in Latin America are regulated and...
August 14, 2024Insurance contracts: implications of misrepresentations
In a recent ruling, the Colombian Constitutional Court (the “Court”) outlined significant guidelines concerning the repercussions of misrepresentations made by policyholders at the inception of an insurance policy. In an...
February 27, 2024Insuralex´s Latin American members awarded by Chambers in Miami
Chambers Latin America Awards 2023 Insuralex is glad to announce that an important number of its Latin American members have been awarded by Chambers Latin America. The Chambers Latin America...
November 21, 2023Free seminar: Parametric Insurance in Colombia
Join the exclusive in-person event on Parametric Insurance in Colombia organized by Insuralex and Brigard Urrutia, our exclusive member in Colombia! Discover the future of risk management and how parametric...
August 31, 2023Meet Insuralex at FIDES RIO 2023!
Meet Insuralex´s Latin American team at EXPOFIDES Booth 56 and learn more about the FIDES / Insuralex insurance regulatory report. FIDES (Federación Interamericana de Empresas de Seguros) in collaboration with...
August 9, 2023Insuralex comparative report: Anti-money laundering and terrorism finance controls – Obligations of Insurance Intermediaries
Insuralex presents a comparative report that analyzes the role of insurance intermediaries in complying with anti-money laundering and terrorism finance controls in the insurance industry. This report is presented by...
June 29, 2023Free Webinar: “2023 Surety Bonds in Latin America – Industry Insights”
We at Insuralex are excited to announce an upcoming Insuralex event titled “Surety Bonds in Latin America – Industry Insights.” Surety Bonds are the backbone for the development and execution...
April 26, 20232023 Overview of surety bonds regulation
Insuralex is a group of more than 50 independent law firms from Europe, North America, Latin America, Africa, Asia and the Middle East that specialise in Insurance and Reinsurance. Insuralex...
February 16, 20232022 Parametric Insurance in Latin America: Update
The use of parametric insurance as an alternative to traditional indemnity-based insurance has increased over the last twenty years, particularly as a mechanism for insuring against extreme weather risks. Following...
August 10, 2022Brigard Urrutia was distinguished as Insuralex’s law firm of the year
At the Insuralex annual meeting held in Chicago on July 1st, 2022, Brigard Urrutia, exclusive firm member of Colombia, was distinguished as the law firm of the year. Most Insuralex...
July 6, 2022Webinar FIDES & Insuralex: Insurance regulatory update in Latin America
FIDES (Federación Interamericana de Empresas de Seguros) has launched a report on insurance regulatory matters in the countries where FIDES has member insurer associations. FIDES represents 18 Latin American countries as well...
May 11, 2022Insuralex FREE report: 2022 Overview of Life Insurance Law in Latin America
Covid 19 has impacted social dynamics around the world in multiple ways. Unfortunately, one of them has been the death of thousands of people. For the insurance industry, this has...
April 6, 20222022 Insuralex report: Overview of reinsurance law in Latin America
Insurance companies, like many others, are exposed to multiple risks and, therefore, they are concerned about having mechanisms to ensure their operations, avoiding that, in the event of a large...
January 19, 2022FIDES launches insurance regulatory report in collaboration with Insuralex
FIDES (Federación Interamericana de Empresas de Seguros) has launched a report on insurance regulatory matters in the countries where FIDES has member insurer associations. FIDES represents 18 Latin American Countries...
October 27, 20212021 Insuralex report: Insurers ´subrogation in Latin America: An overview
The right of subrogation of insurers is a common institution in most Latin American countries. However, although in all cases law establishes the right, the conditions regulating its exercise differ...
October 19, 20212021 Criminal prosecution of insurance fraud in LatAm
One of the great challenges facing insurers today is to have effective tools against insurance fraud. To this purpose, some Latin American countries have opted to include this type of...
June 9, 20212021 Liability insurance in Latin America: An overview
Liability insurance is one of the main lines of business in Latin America. It comprises several risk-transferred based products to offer depending on the insureds’ special needs and the liability...
March 8, 20212020 Insurance digital commercialization in Latin America report
Digital commercialization for insurers in Latin America ceased to be a long-term development project to became a top priority to them. It gained special relevance during the year 2020 due...
September 7, 20202020 (Re) Insurance arbitration in Latin America report
The use of alternative dispute resolution mechanisms for insurance and reinsurance has become a growing practice in Latin America. In particular, arbitration has been widely accepted as offering flexibility, celerity...
June 17, 20202020: Taxation on reinsurance premiums in Latin America
The world’s main reinsurance markets typically provide its services on a cross-border basis for Latin American based cedants, considering that the reinsuring capacity within the region is limited, in comparison...
March 31, 20202020 Parametric Insurance in Latin America: An overview
The use of parametric insurance as an alternative to traditional indemnity-based insurance has increased over the last twenty years, particularly as a mechanism for insuring against extreme weather risks. Following...
January 15, 2020
