Irregularities in public assurance were discovered

An alleged scam carried out by Reinsurance companies against the Ecuadorian government, after the discorvery of fake reinsurance certificates in two hydroelectric projects, was denounced yesterday by President Rafael Correa, during his weekly broadcast .

The complaint was submitted to the Comptroller and the Attorney General’s Office, and there are criminal proceedings against intermediaries to be determined the responsable ones,  as well as investigations to the insurance companies Rocafuerte and Sucre to see if there was negligence or corruption in the administration.

To correct the irregularities and protect the Government, it was ordered that the brokers (international reinsurance brokers made in London) would be internationally renowned companies.

The President said the state insurance companies: Sucre and Rocafuerte, will improve its services and will specialize to protect state assets and public officials. Sucre will only work with real property and other equipment owned by the State; while Rocafuerte will specialize in Personal insurance such as life insurance, accident, SOAT (Traffic Accident Insurance), agriculture, among others.