Insurance and Reinsurance Act of Venezuela with winds of changes
approved in first reading the draft "Law on Insurance Activities," which fills a gap since the suspension of the Insurance and Reinsurance Act of 2001, yet the law adapted to the Constitution of the Bolivarian Republic of Venezuela and our country governed by a law of 1995 with regulations 1999.En now a team of colleagues formed by insurance producers who are also lawyers insurance specialists, are studying the form and substance of the articles adopted in first reading, this study will produce a legal analysis that we deal with regional colleges, either in directories or National Assembly thus take the same attitude towards , however I believe that this bill passed the Insurance Activity responds to the changing times we live today in the world and especially in our country. This bill has 309 articles, 1 repeal provision, 7 and 1 transitional provisions disposal. Germain salute
Ferrer, who was our colleague and former director of Fecoprose, as yet our guild deep knowledge of our situation and one of our legislators aware of the commitment to ensure the cleanliness and transparency in the insurance industry. We also visited several states the deputy Simon Escalona, \u200b\u200bto whom we discussed our observations, he was a witness of requests us to do insurance producers and users of the policies (insured) and that these forums were conducted in public spaces to facilitate community support, we extend our gratitude to the deputy for the attention and collaboration.
The legislature wisely listened to the opinions of our union members nationwide through forums organized by colleges, in these forums we presented to members of the JD FECOPROSE and union committee, which is a commission created by FECOPROSE and Regional Colleges to handle any request and will make the regional colleges, we also saw the mobilization of colleagues to the capital and specifically to the floor for discussion of the draft law, which introduces many changes, some impair the union as the representative to the National Insurance Council, the producer also deteriorates with time in which we must cancel the commissions from insurance companies or insurance brokerage "business days .. .." (See Art. 206 of the project) highly sensitive point and that guild application must claim since it was a battle won, view current art LESR 148, paragrafo 4th (Act 1995): setting ".. days following receipt of the raw .." for the payment of commissions, particularly I think it is a drafting error.
Another point to discuss is that this project has aspects that we have faced since provided insurance producers: direct code from the decade of the 90 when discussing the draft law passed in 1995, the guild has raised to the Executive the need to enact the Law on Insurance Producer Professionalization and to that end has entered projects Professionalization Act of insurance producer, which have been forgotten by the legislature and executive. Has become strong fight. Although the direct code is not declared as a danger to our guild, we can not deny that gives rise to many situations that create discomfort for insurance producers, there are generated many of our problems: the pseudo producers, as well as stimulate the "costumes" in order only the professionalism of insurance producer could end this evil.
For now, praise and blessings for the wisdom displayed by the legislature in this project, which will cut injustices that are going to support each one in the already mentioned Direct Code such as Bancassurance (with direct intermediation of banks), the codes assigned to car dealers (car dealers acting as insurance producers is not) with this item is cut to the abuse of power and enforcement mechanisms that create those situations, and also confirms the reverse entry NO commission, also maintains and confirms the stability of the insurance producer and maintaining continuous effective the credentials provided by the Sudeseg, in the 2001 law envisaged the renewal every two years to the Sudeseg credentials which underwent constant instability of insurance producers, thereby limiting any investment in stamps, stationery, advertisements, notices and others, constantly changing number of credentials. It already passed and so I set the project, the number of credentials awarded to an insurance producer shall prevail for all purposes. This project of course
maintains control and oversight of Sudeseg on the yield strength and insurers, however proposed in one of his articles (specifically the 110) Special conditions for Cooperatives (see established in the regulations) that is a point that surely will be debated by the Chamber of Insurers, and that the sensitivity of the insurance industry in terms of technical reserves to reinsurance contracts, controls the premium finance and other technical aspects, insurance producers are convinced that flexibilities should not be allowed to companies of any sector.
These are just a few notes, among others that affect or benefit both insurance producers and users, who are trying to protect the rule stated in this bill that will be audited companies of prepaid medicine, the Responsibility Car Civil, Insurance Cooperatives, these companies until they are punished by law belong to the parallel market Insurance as is well known, many of them have disappointed users who have been innocently fallen into believing their environment Insurance Companies. This benefits all users safe and in order to prevent the union insurer because the proliferation of companies without capital, without reservation, in order without control.
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