2024-01-11 12:04:05
Given the constant risk faced by Ecuadorians and their vehicles, being direct or collateral victims of the attacks by criminal groups, called “terrorists” by the Government, concern about the validity of medical, vehicle and life insurance skyrocketed yesterday on social networks.
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Given this, in a meeting, the country’s private insurers took certain measures on whether to cover these damages in the midst of the wave of violencein the midst of a state of emergency, decreed last Monday, January 8, and after last Tuesday, the president of the country, Daniel Noboa, declared the existence of an “internal armed conflict in Ecuador”, through a decree, after the terrorist act of taking over a television channel.
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The main resolution of the insurers was to continue with the validity of the insurance and for each company to address the cases presented to it, as stipulated in its contract with the client. “The conditions of the policies do not change,” Patricio Salas, president of the Ecuadorian Federation of Insurance Companies (Fedeseg). Hours later, the Superintendence of Companies, Securities and Insurance (SCVS) also did so, through a statement.
The doubt arose because insurance companies in Ecuador maintain one of the clauses that establishes that injuries or illnesses resulting from, among other situations, “civil war” or “terrorist acts”, will not be covered.
“All insurers have this exclusion in terms of vehicle and medical insurance, and it will depend on each insurer whether to omit it to support citizens, as was done in the COVID pandemic,” detailed broker Enrique Sotomayor. The specialist also clarified that the only insurance that is still valid as always, despite the state of violence in the country, is the life policy. “Health insurance is not the same as life policy. The only exclusion that the life policy has is suicide for the first two years,” he explained.
In addition, the insurance broker, Guido Jalil, explained that several insurers will maintain the medical policies and current vehicles, but only for its clients who are up to date with their payments.
“Insurance companies have always stepped up to the plate and support their policyholders, so they will support as they did in the pandemicalthough some have had to pay a fortune,” adds Jalil.
However, Salas clarified that despite the validity of the policies, companies will make certain exceptions. Affectations and damages to people and vehicles that do not respect the curfew, which prohibits circulation between 11:00 p.m. and 5:00 a.m., will no longer be covered. The damages arising in that period are not covered because the law would be broken. “There are conditions that the policies have. During that time they are not covered because at that time you should not circulate,” Salas added.
Throughout yesterday, one by one, the insurers of the country reported their resolutions on their social networks. For example, the insurer Sweaden explained that “all damages or inconveniences that occur will be attended to by our teams, who will be ready to serve you with whatever you need.”
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The company United Insurance published something similar, mentioning that its clients “will have all the coverage and contracted conditions, as long as the regulations issued by the Government are complied with, during the state of emergency.”
Salas also clarified that insurance policies do not cover terrorism, but they do cover damage due to vandalism. Which means, for example, that if terrorists set fire to a car and they attribute that fact, in that case the damage to the car will not be covered by the insurance either. But if in the midst of the wave of violence, the car suffers a traffic accident or falls from a tree, for example, the company will cover the expenses as established.
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