The Asociacion Boliviana de Asegoradores (ABA), a private association of Bolivian insurers, recently denounced the “illegal” sale of travel and life insurance by non-registered, foreign insurers. Juan Carlos Quiroga, a spokesman for ABA, further asserted that the organization was aware of numerous instances in which purchasers of insurance from foreign insurers were left without recourse because the foreign insurers were not registered with or subject to the fiscal regulation of the Bolivian insurance authority.
The Bolivian insurance authority also released a list foreign companies that it asserts had “illegally” issued policies without proper registration.
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