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What does it mean that the insurance products do not constitute obligations nor guarantees of Banco Popular, NA, Banco Popular de Puerto Rico nor of their subsidiaries?

April 26, 2017Banco constitute guarantees Insurance mean Na obligations Popular products puerto rico

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What does it mean that the insurance products do not constitute obligations nor guarantees of Banco Popular, NA, Banco Popular de Puerto Rico nor of their subsidiaries?

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A deposit is a contract between the bank and its clients. An insurance policy is a contract between the insurance company and its clients. This is the reason why the insurance policy is not an obligation of the bank nor of its subsidiaries.