Costa Rica's INS speeds up its entrance to Central America

The entity hopes to enter Nicaragua before the end of the year and the rest of Central America by next year.

Thursday, August 14, 2008

INS (National Insurance Institute) will offer its products by acquiring an already established insurance firm in each of the countries or directly under the name of the "INS Internacional" corporation. The corporation will be established within two to three weeks and will be used to lead the effort to enter the region's insurance market.

More on this topic

Costa Rica: The State Still Buys Insurance from INS

August 2012

Despite the de-monopolization of the market four years ago, state institutions continue to obtain their insurance with the National Insurance Institute (INS).

An article in reports that "Although the Law Regulating the Insurance Market (LRMS) leaves open the possibility for public sector entities to buy private insurance policies, few enterprises have contracted their services."

INS has new policies in Costa Rica

December 2008

The National Insurance Institute has a portfolio of 17 new policies that they plan to offer via public and private banks in the country.

The offer includes products such as a family protection insurance, which in case of death provides income for food, housing, education and transportation of family members.

Change comes to Costa Rica's national insurance company

July 2008

Costa Rica's passage of the Law to Regulate the Insurance Market has brought the National Insurance Company to a new stage, under which it gives up monopoly status at home but is allowed to enter foreign markets.

As a first stage of the internationalization of operations, the company is proposing to expand into Nicaragua over the next six months, and in 2009 it plans to enter the Panamanian marketplace.

Costa Rica's insurance market opening up

June 2008

A bill to change the regulatory environment of the insurance industry in Costa Rica appears to have the 38 votes needed to pass second reading.

There appears to be no serious opposition to the Regulatory Law of the Insurance Market, and it looks as though it will have smooth sailing in Congress.

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