Legislative Examination of Insurance Intermediaries and their Liability in Colombia: Complement the Current Legislation or Promote its Knowledge and Encourage its Compliance?

Abstract

An examination of the current Colombian legislation regarding insurance intermediaries and their civil liability regime, questioning whether it is more beneficial for the financial consumer to complement it in order to achieve a comprehensive regulatory framework, or to promote knowledge and compliance with the existing regulations on the matter. The author assesses inaccuracies and gaps in the current laws when defining each type of intermediary, their corporate purpose, their legal nature, and their liability regime.