NDLI: Aplicación de la suspensión de pagos en general como una causal eficiente para la liquidación forzosa de compañías de seguros en el Ecuador

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Aplicación de la suspensión de pagos en general como una causal eficiente para la liquidación forzosa de compañías de seguros en el Ecuador

Content Provider	Semantic Scholar
Author	Baranovski, Ricardo Castrillón
Copyright Year	2015
Abstract	The General Law for Insurance states in its article 55 the legal form of compulsory liquidation caused by the suspension of general payments as a method to assure the fulfillment of insurance companies’ payment obligations. The suspension of payments appears to be a self-explanatory rule, but by looking into its origin we can find that the spirit of this rule was that it had to be applied only when there was a failure to comply with the payment of the insurance indemnifications. In spite of this, today a suspension of payments is considered to be the failure to comply in any kind of payment obligation. When a company fails to comply with this obligation the sanction is its liquidation, which appear to be excessive, but the Superintendence doesn’t have any other way to force to companies to pay their debts. Between these debts, the most important one is the payment of the insurance indemnification that has been ordered by the Superintendence in a resolution based on its semi-judicial power given by article 42 of the General Law for Insurance. With this resolution the obligation to fulfill the payment emerges, but it’s very common for insurance companies to delay this payment or refrain from doing it completely because they don’t want to or they can´t afford it. Sadly there is no method to enforce the Superintendence resolution, so the liquidation caused by the suspension of payments transforms itself in the legal form destined to insure that this obligation is met. This dissertation analyses the characteristics of the liquidation and its cause to determine that these are not effective mechanisms to insure the fulfillment of this obligation, and I suggest reforms to achieve an efficient use of this legal form.
File Format	PDF HTM / HTML
Alternate Webpage(s)	http://repositorio.usfq.edu.ec/bitstream/23000/3999/1/113693.pdf
Language	English
Access Restriction	Open
Content Type	Text
Resource Type	Article

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