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.