Keywords
manifest intent
active and conscious intent to cause loss to the insured
gross negligence and dol
discovery of losses
infidelity of employees clause
discovery limitation clause
liability arising from banking operations
How to Cite
Abstract
This article corresponds to the presentation made by the author at the XXVIII Congress of the Colombian Association of Insurance Law -ACOLDESE- held in the city of Medellin in October 2015.
Major developments in global banking policies in the last decades are analyzed; while policies used in the Colombian market, come from the UK, which have remained unchanged, the American form No. 24 which served as basis of the different english wordings, has been modified through various adjustments and alterations, particularly in relation with infidelity of employees clause.
The analysis also includes various topics, such as: the configuration of discovery according to the parameters adopted by the american courts; the alleged abusiveness of infidelity clauses and limitation of discovery clauses and the extent for the duty to mitigate damages.
Finally, the author makes a brief account of the most recent developments in on banking professional indemnity coverages, computer systems fraud coverages and the products called “cyber risks” and “cyber liability”.
This journal is registered under a Creative Commons Attribution 4.0 International Public License. Thus, this work may be reproduced, distributed, and publicly shared in digital format, as long as the names of the authors and Pontificia Universidad Javeriana are acknowledged. Others are allowed to quote, adapt, transform, auto-archive, republish, and create based on this material, for any purpose (even commercial ones), provided the authorship is duly acknowledged, a link to the original work is provided, and it is specified if changes have been made. Pontificia Universidad Javeriana does not hold the rights of published works and the authors are solely responsible for the contents of their works; they keep the moral, intellectual, privacy, and publicity rights.
Approving the intervention of the work (review, copy-editing, translation, layout) and the following outreach, are granted through an use license and not through an assignment of rights. This means the journal and Pontificia Universidad Javeriana cannot be held responsible for any ethical malpractice by the authors. As a consequence of the protection granted by the use license, the journal is not required to publish recantations or modify information already published, unless the errata stems from the editorial management process. Publishing contents in this journal does not generate royalties for contributors.