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

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

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