Several companies are expected to take advantage of the opening of the insurance market.
The passage of law amendment opening the insurance industry is part of the process of preparing to join the Central American Free Trade Agreement with the United States.
The measure encountered some opposition in Congress, but there was a sweetener: the amendment also paves the way for the National Insurance Institute to operate abroad, in effect competing in other markets throughout the region.
It will also simplify the process of signing contracts and purchasing.

Source: La República

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The National Insurance Institute (INS) created four new companies to face competition in the insurance market.

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Costa Rica's Congress approved a bill that will remove the state's monopoly of the insurance market.

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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.