Insurance Policies Cost 10% More in Guatemala

In the first half of the year, the cost of insurance policies in the country increased 10.5% when compared to the same period of 2008.

Wednesday, September 16, 2009

Increases in auto accident and theft rates are one of the main drivers of this price increase.

"Another factor affecting prices is a 62% reduction in imports of new vehicles", explained journalist Louisa Reynolds in her article in

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May 2015

In the first quarter of the year, total premiums in the country totaled $338 million, 5% more than in the same period last year, driven by automobile insurance.

Vehicle insurance is the most in demand, reporting $63 million in premiums from January to March 2015, representing an increase of 11.8% compared to the same period last year.

Insurance Trends in Nicaragua

September 2014

Auto policies are the fastest growing category, with an increase of 14% so far this year compared to 2013.

Lack of a culture of prevention is preventing the emerging Nicaraguan insurance market from achieving high growth rates in most policies. Car policies are the most sought after, but those for life, property and health are growing slowly.

$5 million Insurance Policy Awarded to Banrural

April 2012

The State of Guatemala will insure 9 hydroelectric stations and 65 transmission substations, paying the most expensive annual insurance bill in the local market.

The National Institute of Electrification (INDE) awarded a policy of Q37, 8million ($4.86 million) to Aseguradora Rural to insure against all risks and terrorism, 9 hydro and 65 transmission substations, which are some of the most valuable pieces of public infrastructure in the country.

Insurance Policies Will Cost Up to 100% More

January 2010

Panamanian insurers announced price increases of up to 100% for health insurance.

These increases are driven by high accident rates and increased medical costs.

"Mauricio de la Guardia, president of the Panamanian Insurers Association, explained that companies recorded an increase of more than 70% in accident rates, so they must rise prices to cover increased costs", reported

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