Although the subject of the present informative capsule could be considered inappropriate as it deals with a subject that is sensitive and sometimes even somewhat taboo, it is no less true that it is a real fact and of such transcendence, that it has warranted the existence in Panama of legislation that “establishes the legal framework for the integral approach to suicidal risk behaviors”” which is precisely the title of Law 174 of November 2, 2020.
Reduction of suicidal behaviors
Although it is not the object of this article, it is worth mentioning that said law has as one of its objectives the reduction of suicidal behaviors, creating for that purpose an inter-institutional body.
In approaching the subject that gives its name to this capsule, we will do so in a dual manner, that is: a) from the point of view of insurance law and the law; and b) from the point of view of insurers and their way of approaching it in insurance policies or contracts.
a.- Insurance and the law: In accordance with this viewpoint, we must bear in mind that insurance is eminently aleatory in nature. It depends on an uncertain event that may or may not occur - always independently of the will or action of the insured - for example: a fire, a hurricane; or the uncertainty of when it will occur; for example, the death of the insured.
In both cases, it is essential that the occurrence of the loss does not depend on the insured's actions. That is to say, the insured cannot be the cause or producer of the loss, since this would go against the essence of the insurance. Our Code of Commerce contains rules that remind us through its articles, the non-coverage of risks in which the intentional participation of the insured or of whoever acts on his behalf intervenes in the occurrence of the loss,. Articles 1001, 1007, among others.
Regarding suicide, that is, the action of voluntarily taking one's own life (DRAE), our code does not mention it within the rules regulating life insurance. However, when regulating bodily accident insurance, the pertinent part of article 1060 establishes that “The insurer shall not be liable for accidents caused by suicide...”.
b.-In the insurance policies or contracts: Through this prism, in the Panamanian insurance practice and probably that of many other countries, the situation is different since many of the policies that are commercialized in our market, in spite of what the law and the insurance law establishes, allow insurance coverage for suicide after some years have elapsed, usually two years, from the date of issuance of the policy.
Although this is a practice that contravenes both the provisions of the law and the aleatory principle of insurance, if an insurer wishes to cover such event and so agrees in its policy, then we understand that it will honor the coverage, should the same occur.
As can be appreciated from the above, it would seem that regardless of the tangential provisions of Law 174 (art. 14) regarding health policies, the coverage of suicide in our country, although it is not supported in accordance with the law and the doctrine of insurance law, is supported under some of the policies that are marketed in our country by the exclusive will of the insurers.
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