Modifies The Article 37 Of The Law N ° 1883 Of 25 June 1998, Insurance.

Original Language Title: Modifica el Artículo 37 de la Ley N° 1883 de 25 de junio de 1998, de Seguros.

Read the untranslated law here: http://www.gacetaoficialdebolivia.gob.bo/index.php/normas/verGratis_gob2/153331

LAW Nº 737 Act of 21 September 2015 EVO MORALES AYMA President constitutional of the PLURINATIONAL State of BOLIVIA, by how much, the plurinational Legislative Assembly, has sanctioned the following law: the Assembly Legislative PLURINATIONAL, DECREES: article only. Amending article 37 of the law N ° 1883 of 25 June 1998, insurance, with the following text:? Article 37. (ESTABLISHMENT OF COMPULSORY INSURANCE OF CAR ACCIDENTS - SOAT). It establishes as obligatory, that every owner of a motor vehicle in the territory of the plurinational State of Bolivia, irrespective of their type, have the compulsory insurance of traffic accidents - SOAT. Such insurance will be indisputable, irreversible and its action will be directly against the insurance company.
Compulsory insurance of traffic accidents - SOAT aims, giving a coverage of medical expenses due to accident and compensation for death or permanent total disability to any individual person who suffers an accident caused by a motor vehicle in the territory of the plurinational State of Bolivia.
Capital insured for medical expenses, will be up to the sum Bs.24.000.-(twenty-four thousand 00/100 Bolivian) per person for each event, without any limit of covered persons. Additionally the capital insured for the eventualities of death or permanent total disability, will be Bs.22.000.-(twenty-two thousand 00/100 Bolivian) per affected person by event and without that there is limit of persons covered by it. These amounts will be reviewed at least once every three (3) years by the Executive branch of the central State level, can this modify them by Supreme Decree.
The qualification of the degree of disability, must be done with the same unique qualification for disability and death, and complementary standards.

Traffic accidents - SOAT, mandatory insurance will be sold by insurance companies that manage general insurance and insurance of persons, legally established in the country and entities enabled by authorisation of the authority of control and Control of pension and insurance - APS.
Traffic accidents - SOAT, mandatory insurance may be hired or sold remotely through electronic means and Teleinformatics, using documents and digital signatures, which, so they are legal and evidentiary validity, and produce all the effects provided for in the law, shall comply with the requirements established by law N ° 164 August 8, 2011 General Law on telecommunications, information and communication technologies.?
FINAL PROVISIONS FIRST. General insurance and insurance of persons, may be hired or traded away by electronic means, using documents and digital signatures, which, so they are legal and evidentiary validity, and produce all the effects provided for in the law, shall comply with the requirements established by law N ° 164de on August 8, 2011, General Law on telecommunications , Information and communication technologies.
THE SECOND. Throughout the text of the law N ° 1883 of 25 June 1998, of insurance, the designation is replaced? Republic of Bolivia? or? Do Republic? by? Plurinational State of Bolivia?.
SOLE ABROGATION AND REPEAL PROVISION. They abrogate and repealing all provisions contrary to this law.
Refer to the Executive Body for constitutional purposes.
Two thousand and fifteen is given in the room sessions of the Assembly Legislative plurinational, to the seventeenth day of September in the year.
FDO. José Alberto Gonzales Samaniego, Victor Ezequiel Borda Belzu, Ruben Medinaceli Ortiz, Maria Argene Simoni Cuellar, Nelly Lenz Roso, Erik Moron Osinaga.
I therefore enacted it is and meets as a law of the plurinational State of Bolivia.
Government Palace of the city of La Paz, at twenty-one days of the month of September in the year two thousand and fifteen.
FDO. EVO MORALES AYMA, Juan Ramón Quintana Taborga, Carlos Gustavo Romero Bonifaz, Luis Alberto Arce Catacora, Milton clear Hinojosa, Campero Ariana Nava, Marianela Paco Durán.