Costa Rica and Cross-Border Insurance
The Costa Rican Superintendent of Insurance issued a technical note to set limits on the marketing of insurance by foreign companies.
Wednesday, June 3, 2009
Following the adoption of DR-CAFTA, foreign insurers can market insurance for shipping, commercial aviation and goods in transit in Costa Rica, without being formally established in the country. It is enough to register with the Superintendent of Insurance (SUGESE) and obtain approval for each product marketed.
The National Insurance Institute will resume this year its plan to expand its operations to the countries of the region, investing $300 million in the process.
The state run Nacional de Seguros and PanAmerican Life share 88% of the market in the segment of accident and health policies.
During the first half of 2012, the insurance sector in Latin America had a premium volume of $77,085 million, maintaining growth rates of two digits.
After the fall of the state monopoly on the insurance market, there is still little competition in the insurance ‘auto-expendables’ segment.
- Daily Update
- Government Purchases
- Classified Ads
- Indexes & Statistics
- Press Releases
- Events Calendar