Law on Insurance Contracts, Amended Version

This law regulates insurance contracts in Mexico. Insurance contracts state the conditions under which insurance companies must pay a previously agreed sum of money to an insured agent. Insurance companies will be able to receive offers, reject written declarations, charge expired premiums, issue receipts and verify the events or accidents triggering insurance payments. This is the 2013 amended version to the 1935 law. 

The insurance contract is void if, at the moment of signing, the events or conditions that would trigger payments have already taken place. The enterprise will not be obliged to execute the contract's conditions if the insured agent prevents the insurer from verifying the events triggering a payment.

 

 

Document Details

Title (Non-English): 
Ley sobre el Contrato de Seguro, Reforma
Document Type: 
Document Topic: 
Doument Author (Entity): 
Authoring Country: 
Originating Country or Trade Block: 
Issue Status: 
Year of Document: 
2013
Date of Document: 
Thursday, February 28, 2013
Document Authors: 
Presidency of Mexico
Language (This Document): 
Spanish

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