Colombian Commercial Code - Decree 410 of 1971 - Book IV - Of Contracts and Corporate Obligations - Part V - Contract Security - Chapter II - Damage Insurance - Section IV - Liability Insurance - From: Section 1127 By: Art . 1133
COLOMBIAN COMMERCIAL CODE Section IV Liability Insurance Section 1127 .- Modified. Law 45 of 1990, Section 84. Nature of liability insurance. Insurance liability imposed by the insurer the obligation to compensate the damages that cause insured property by reason of certain liability incurred in accordance with law and aims to redress for the victim, which in virtue of this it is in the beneficiary of the compensation, without prejudice to the benefits which may recognize the insured. Are insurable contractual liability and tort, as well as negligence, with the restriction referred to in Article 1055. Section 1128 .- Modified. Law 45 of 1990, Section 85. Liability of the insurer. The insurer shall be liable as well, even in excess of the sum insured for the costs of the process the third victim or his successors promoted against him or the insured, except that: 1. If the responsibility comes from intent or gross negligence, or is expressly exclud...