1. Insurance Companies shall provide the Central Bank with forms of Insurance Policies and related annexes, including general and special terms and conditions, technical grounds of such policies and Premium rates annexed thereto; and shall provide the Central Bank with schedules of redemption values of Insurance Policies of Persons and funds accumulation operations and Premium rates annexed thereto. 2. Should the public interest require or in case of imperfection that may compromise the interests of Insured and Beneficiaries, the Central Bank may request Insurance Companies to introduce an amendment to the forms of their Insurance Policies and related annexes, within the period determined the Central Bank for such purpose. 3. Insurance Companies shall provide the Insured and Beneficiaries with copies of Insurance Policies and related annexes after any amendment is introduced, within the period determined by the Central Bank. 4. The Insurance Company shall pay the compensation set out in the Insurance Policy to the Insured or to the Beneficiary, as the case may be, as soon as the incident occurs or insured risk materializes. Following which, the Insurance Company shall subrogate the Insured for the indemnity it paid for damage in lawsuits of the Insured vis-à-vis the party causing the damage for which the Insurance Company's liability has arisen.
Interpretation and application must be checked against the official text and current version.