Willemstad, April 2025
To improve consumer protection and dispute resolution in the insurance sector, the Curaçao and Bonaire Insurance Association (CBIA) and Fundashon pa Konsumidó (FpK) have jointly established the new Insurance Complaints Committee Curaçao (GVC).
The GVC provides an independent and impartial platform for resolving insurance-related complaints that cannot be settled through the insurer’s internal process. Complaints can be submitted by consumers and insurers, and the committee is authorized to issue binding decisions for CBIA members on claims up to XCG 150,000.
Key features of the new system:
- Open to all consumers in Curaçao with unresolved insurance complaints
- Cases are reviewed by an independent panel of legal and insurance experts
- Decisions are binding for CBIA member insurers; optional for non-members
- Mediation is encouraged before formal hearings
- Structured procedures and clear timelines ensure efficiency and transparency
CBIA considers this initiative a significant step forward in strengthening public trust in the insurance industry. The GVC is expected to enhance legal certainty, ensure fair treatment of consumers, and foster sector-wide accountability.
– Effective date: April 1, 2025. The full regulation is available via CBIA and FpK websites.
