More Insurance Options in Guatemala
The coming into effect of the new Law on January 1st, 2011, would incite the creation of more insurance products geared towards individuals.
Wednesday, December 15, 2010
Insurance in Guatemala has now a 7% penetration, a very low percentage compared to other Latin American countries where it reaches 25 to 30%.
Low-cost auto insurance policies are rapidly expanding the insurance culture in sectors of the population who can not access traditional policies.
Two years after the amendment to the Law of the sector, the insurance market covering risks for short periods at low costs has been consolidated.
The Finance ministry suggested the State to acquire insurance to protect public infrastructure.
Congress could pass a new insurance bill on Thursday which would allow the participation of foreign insurers.
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