A special examination by the Comptroller established irregularities in the policy contracted with Seguros Sucre, to ensure the credit operations of the IESS bank.
The General Comptroller of the State (CGE) confirmed civil liabilities by $18,005,721 about former officials of Bank of the Ecuadorian Institute of Social Security (Biess). The reason is that they did not claim the coverage policy for members who accessed loans and they lost their jobs.
The resolution of the control body confirms glosses and provides for the issuance and initiation of the process of collecting credit titles to former general managers, managers in charge, managers and deputy managers of credit and operations of Biess, who served between 2016 and 2018.
these officials controls were not implemented in critical processes for mitigating risks in credit operations.
Irregularities
The Biess and Sucre Insurance signed the “group life insurance policy”, valid from August 2015 to October 2016, which included, among other aspects, the member unemployment coverage what did you recieve mortgage loansin case of being laid off.
The gloss corresponds to 3,894 mortgage loans by $7,221,929.54 and others 6,760 credit operationswhich amount to $10,783,792.60, such as cases in which claims were not filed with the insurer for retrieve these values in favor of Biess.
The bank, according to the Comptroller, did not take action within the period of two years indicated in the law, so that Sucre Insurance run the hedge.
The Biess started the procedures after the policy had prescribed, therefore, the entity was economically affected by the value of the confirmed guilty civil liability.
The general managers of the entity Nor did they timely submit the supporting documentation of the debtors required by the insurer.such as: notification letters of claims, copies of identity cards, settlement certificates from the Ministry of Labor Relations, certified copies of employment contracts and employers’ compensation, and certifications of the IESS and the SRI of not exercising economic activities.
