Insuring Agreement In Spanish

Where a guarantee has been included in the contract, it must be interpreted as an explicit contractual agreement, without the insurer being responsible in the event of an infringement. However, if a precondition has been expressly agreed by the parties, the effectiveness of the insurance contract may depend on compliance with that condition. The validity of the insurance policy may depend on certain guarantees or conditions of the previous one. Please note that Spanish insurance legislation does not provide explicit provisions for the application of guarantees and conditions in the previous one and that, therefore, the general civil principles of the Spanish civil code apply. It is important that many of these statutes allow the parties to agree in politics on the exclusion of the application of the proportional rule, and the term “insurance at first loss” is widely understood as an agreement not to apply this proportional rule. Given the prevalence of under-insurance in Latin America, this term can therefore be decisive in determining the amount owed under a policy. However, the protection of evidence, which is reflected in the terms “without prejudice” or “rule 408,” is often not recognized in civil courts. Regardless of whether or not these terms are used, settlement discussions can be proven in a lawsuit. For many insurers, this may come as a surprise. But what is more surprising is not the adaptation to activity in less well-known civil jurisdictions. Insurers or reinsurers involved in a hedging dispute that may give rise to an action or arbitration proceeding in a Latin American country should be attentive to this possibility when initiating settlement negotiations and exercise caution, especially when writing to a counter-demand party. The parties can obtain a certain degree of protection by entering into a confidentiality agreement covering all conciliation discussions.

Some terms, often present in contracts and insurance statutes (return), have a different meaning in the common law, in English-speaking legal systems, than in Spanish-speaking countries. It is essential that (return) insurers who cover risks in Latin American legislation, either through the reinsurance of locally issued policies or through participation in comprehensive insurance programs, understand that such differences exist and may affect the interpretation, expectations and resolution of policy disputes. In a perfect world, these differences, if understood correctly, would also influence Latin American formulations and risk assessments. In this article, we look at some important concepts whose meaning in local law may not be what an international insurer would expect to see. It is important to consider the impact that a translation could have if it is not a real and accurate representation of the language of the original insurance contract. 1 Lopez av State, 153 So.3d 927, 934 (Fla. 2d DCA 2014). 2 Teng v. Mukasey, 516 F.3d 12, 18 (1st Cir. 2008).

3 See Dogu Yayin Grubu A.S. v. DFH Network, Inc., 2014 WL 12585785.