Costa Rica Insurance: Claims Up 10%

As of July claims for payments totaled $284 million, with personal insurance policies having increased the most.

Wednesday, August 27, 2014

In the case of personal accident insurance, registered insurance companies reported an increase of 13% between July 2013 and March this year. "...Within this category, those that grew the most were those of health and accident insurance, going from $26 million to $28 million. "

Elfinancierocr.com reports that "... The claims reported in the general insurance category totalled $147 million, up 7.4% from a year ago. On separating categories, the most growth was reported in credit policies, marine vehicles and pecuniary losses; while, in general, the highest figures are still for accident are motor insurance, fire and allied lines, and compulsory motor insurance. "

Alfredo Ramirez, manager of Pan American Life, said "...Policies are seeing high levels of claims, since policyholders are beginning to use them and this raises the indicator."



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Growth in claims, primarily in motor insurance, which increased 14% in the first half of the year compared to the same period in 2013, is generating increases in prices of premiums.

Costa Rica: Personal Insurance Premiums Up 21%

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The sale of life, accident and health insurance rose from $113 million in June 2013 to $148 million in the same month in 2014.

Figures from the Superintendence of Insurance (SUG) show the growing interest on the part of Costa Ricans in policies for medical expenses and life coverage.

Insurers Disburse $362 million in Claims

February 2012

Insurance companies in Costa Rica paid out 19% more in 2011 than the year before on account of damage claims.

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