According to Andrés Cárdenas, assistant vice president, Marsh, who spoke at Clyde & Co’s Colombian insurance market seminar in London, issues with translation and cultural barriers were putting re/insurers at risk and costing money.

It seemed to Cárdenas that one of the most prominent issues was the translation of legal documents, due to different definitions of the same term in different jurisdictions, or the lack of direct translation in the target language.

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(First posted on 4 Feb 2015)