On July 9, 2025, Law 2475 was enacted, which (i) seeks to guarantee the inclusion and non-discrimination of cancer survivors within the framework of insurance contracting, and (ii) modifies Article 1058 of the Colombian Commercial Code.
The new law introduces the following relevant changes for the insurance sector:
- Exception to the duty to disclose the risk condition
A paragraph was added to Article 1058, exempting policyholders and/or insureds who have suffered from and overcome cancer from the duty to disclose the risk condition and from sanctions for inaccuracy or concealment, provided that at least four (4) years have passed since the end of treatment without relapse, or two (2) years if the diagnosis occurred while the individual was a minor. In addition, any waiver of this exception by a person who has suffered from the disease is deemed null and void.
- Prohibition of discrimination
Any form of discrimination in the contracting of insurance on the grounds of having suffered from cancer is prohibited. In this regard, it is established that insurance companies may not agree to more onerous conditions, require diagnostic tests to detect cancer as a prerequisite for entering the insurance contract, establish contracting procedures that differ from the insurer’s usual practices, or include exclusions based on oncological history. Furthermore, insurance companies are required to clearly and accessibly inform insurance applicants of the right to oncological oblivion, through a form that must be defined by the Colombian Financial Superintendency within six (6) months following the entry into force of the law.
- Sanctions for non-compliance
The Law also provides that any violation of its provisions shall be sanctioned by the Colombian Financial Superintendency, in accordance with Article 211 of the Organic Statute of the Financial System.
- Entry into force
The new Law shall enter into force twelve (12) months after its publication.
For more information, please contact our Insurance and Reinsurance team.