Etiqueta: Insurance

Mexico’s Supreme Court extended statute of limitations for death-related insurance claims from 2 to 5 years, granting claimants more time to seek compensation.

The First Chamber of Mexico’s Supreme Court of Justice (the “First Chamber”) issued a decision confirming that regarding damage insurance cases, when an accident occurs causing the death of a person, the statute of limitations to file a claim against the insurance company is not the two-year term established by the law but the five-year... Leer más →

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Why is «the good faith principle» so important in insurance contracts?

The good faith principle in insurance contracts An insurance contract has a specific condition to become effective: the parties’ good faith. This is confirmed by article 8 of the Mexican Insurance Contract Act (“ICA”) that sets forth the insured’s obligation to disclose in writing all the important facts for the insurance company to conduct a... Leer más →

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