Llona & Bustamante Abogados
Calle Bolognesi 180, Oficina. 404 Miraflores 15074
Juan Prado Bustamante
+511 418 4860
The proven Peru insurance lawyers at Llona & Bustamante Abogados provides counseling to insurance brokers, adjusters and insurance and reinsurance companies, offering its services in matters concerning organization, operation and statutory compliance. The Peru insurance attorneys have experience assisting clients in the development of new products and policies, the preparation and negotiation of insurance contracts and representation before the Superintendence of Banking, Insurance and Pension Fund Administration Companies.
The Peru insurance attorneys have experience representing clients in insurance law matters involving:
The term “insurance” is a contractual agreement; most commonly refers to the instance of an insurance policy, which legally binds the insurer to cover the cost of all or any portion of damages suffered by the insured party as defined in the policy. In its essence, the purpose of insurance is to measure the risks of a potential loss from the insured party. The area of Peru insurance law involves the Federal laws and state statutes regulating the business and commercial conduct of the insurance industry.
While types of insurance vary widely in Peru, their primary goal is to allocate the risks of a loss from the individual to a great number of people. Each individual pays a “premium” into a pool, from which losses are paid out. The premium is not returnable if a loss is not suffered; in that case the payment is for ‘peace of mind”. Thus, when a loss is suffered, the loss is spread to the people contributing to the pool. To ensure these pools are properly managed and adequately funded, the government and the courts heavily regulate the insurance industry in Peru.
The Peru insurance lawyers at Llona & Bustamante Abogados are distinguished by a history of successful insurance law recoveries and resolutions. For experienced representation in an insurance dispute, contact the Peru insurance attorneys at Llona & Bustamante Abogados.