Costa Rica: BCR Insurance Extends Brokerage Services

The company signed insurance brokerage agreements with ASSA and Mundial, becoming the first broker who has signed deals with the country’s five authorized insurers.

Monday, May 17, 2010

“ASSA Compañía de Seguros S.A.”, was authorized to operate in Costa Rica on April 13, and Mundial received its authorization back on February 19.

With these agreements, “BCR Corredora de Seguros” will be able to sell insurance from various companies: National Insurance Institute (INS), Magisterio, Alico, ASSA and Mundial.

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Costa Rica: New Insurance Policies

June 2010

The Insurance Superintendence authorized new products by ASSA and Alico into the market.

Alico will sell Collective Life Insurance while ASSA is offering policies in dollars or colones, to protect movables or real estate against various risks.

As of now, Costa Rica private insurers are offering four different products to the population.

Adisa Insurer To Operate in Costa Rica

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The new insurance company was born as a result of the merger of “QBE del Istmo” Reinsurance Company and “Cooperativa Nacional de Educadores” (Coopenae).

“Aseguradora del Istmo Adisa SA” was authorized by the Costa Rican Insurance Superintendence to sell individual health and life insurance in the country.

BCR Insurance Lands Brokerage Agreements

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In Costa Rica, “BCR Corredora de Seguros S.A.”, an insurance broker, landed brokerage agreements with two new insurers: Alico and Magisterio.

With the agreement, BCR becomes the first and only insurance brokerage to have agreements with three of the five insurers authorized to operate in the country.

Costa Rican Insurance Market Starts To Move

March 2010

The insurance companies authorized to operate in the country have made combined guarantee deposits for $33 million.

These deposit vary from insurer to insurer, depending on the range of products they intend to offer.

Nacion.com reported that companies offering individual and general insurance will have to deposit $8.8 million.

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