Limitations 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 a surety bond with a stability coverage; (ii) the contractor, policyholder of the insurance; and (iii) the involved insurer. Facts: The contracting company requested the
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Evaluation of extended criminal statute of limitations in insurance law related compensation disputes

As is well known, insurance is a financial protection mechanism established within the framework of a contract to reduce or compensate for material losses arising from a specific risk or uncertainty. For certain types of insurance contracts, the act causing the occurrence of the covered risk may also constitute a criminal offense under criminal law.
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The unity of civil fault

Civil liability can have a contractual origin, when damage is generated in the performance of a contractual obligation, or a non-contractual origin, when damage is generated in which a contractual legal relationship is not involved. However, case law, by means of the doctrine of the unity of civil fault, has admitted the possibility that both
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The consequences of non-payment of the premium in the context of a life insurance policy in accordance with Article 95 of the Insurance Contract Law

We will analyze the Supreme Court ruling of March 2, 2020, which addresses “the consequences of non-payment of the premium in the context of a life insurance policy in accordance with Article 95 of the Insurance Contract Law” In this article, from the Insurance Department of Belzuz Abogados SLP, as specialists in insurance law, we
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2025 Insuralex Madrid International Insurance Summit

Important update: Event fully booked. Insuralex International Insurance Summit arrives to Madrid, Spain.  The annual Global Insurance Summit, organised by Insuralex, has been a pivotal gathering for more than two decades (Miami, London, Chicago, New York, Dublin, Los Angeles, Munich, Bermuda, etc.) with hundreds of insurance professionals (insurance and reinsurance companies, Lloyd’s syndicates, insurance and
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Sky & Mace v Riverstone Managing Agency & ors [2024] EWCA Civ 156

The Court of Appeal (“COA”) clarifies coverage for deterioration and development damage in a recent Construction All Risks (“CAR”) policy dispute. In Sky UK Ltd & Mace Ltd v Riverstone Managing Agency Ltd & Ors [2024] EWCA Civ 1567 (see the judgment here) the COA provided useful guidance on a number of issues in this
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Limitations 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 for private contracts. Background: Two employees of a contractor responsible for expanding a production plant filed a claim seeking recognition of extralegal bonuses agreed upon
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2025 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 insurance companies. Consequently, these cross-border transactions create taxation challenges for the local governments where the cedants are domiciled, as foreign reinsurers collect premiums while being
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No 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 Financial Superintendency – Delegation for Jurisdictional Functions (“SFC” by its acronym in Spanish). 1. Backgorund The case stemmed from floods that occurred in 2022 on
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Work 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 that had executed a road rehabilitation contract for a state entity in 2011, backed by a surety bond with work stability coverage. Background of the
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