Colombia’s Superintendency of Transportation has levied a fine of $125,052,000 pesos ($35,000 USD) against insurer Allianz for refusing to turn over information regarding insurance policies issued to Über’s Colombian subsidiary covering accidents and civil liability. According to Supertransporte, Allianz refused to respond to multiple requests from the regulatory agency , which has been battling Über and other transportation innovators in Colombia.
Finance Colombia has reached out to Allianz for comment but so far has not received a response.
The Superintendent of Transportation, Camilo Pabón Almanza, stated regarding the fine: “This penalty is imposed because transport companies are not the only ones that can violate the Transportation Regime. Any person who, by virtue of his activity, may influence the correct provision of the public transport service, may be subject to investigation and possible sanctions from this Superintendency. We are currently conducting investigations against companies of different kinds, such as insurance companies, food producers, oil companies or merchandise companies, to name a few, that have violated the regime. We call on all businessmen to diligently review their obligations under the transportation law, so that together we continue to promote legality in the sector.”