Colombia’s Transport Superintendency has fined insurer Allianz 125,052,000 pesos (USD 35,000) for refusing to provide information regarding insurance policies issued to Über’s Colombian subsidiary covering accidents and public liability. According to Supertransporte, Allianz has refused to respond to multiple requests from the regulatory agency, which is battling Über and other transport innovators in Colombia.
Finance Colombia contacted Allianz for comments, but has not yet received a response.
Transport Superintendent Camilo Pabón Almanza said of the fine: “This penalty is imposed because transport companies are not the only ones who can violate the transport regime. Any person who, due to their activity, could influence the proper provision of the public transport service, may be subject to investigation and possible sanctions by this Superintendency. We are currently carrying out investigations against companies of different types, such as insurance companies, food producers, oil companies or commodity companies, to name a few, who have violated the regime . We call on all business people to diligently review their obligations under the transport law, so that together we continue to promote legality in the sector.