Insurance: Two Companies in Multi Million Dollar Tender

In Costa Rica, only the state insurer and Oceánica de Seguros presented proposals for the tender of the Social Security Fund's all-risk insurance service, estimated at more than $2 billion.

Thursday, June 28, 2018

Taking part in the process to award a contract for a policy to protect all of the buildings, machinery, equipment, furniture, merchandise and even the collection of works of art and books and magazines owned by the Social Security department, were the National Insurance Institute (Instituto Nacional de Seguros or INS) and Oceánica de Seguros

The proposals were received on June 6 and the value of the goods to be covered by the insurance is estimated at $2.351 million. The service period of the policy will be for the next two years. 

Nacion.com reports that "... Fernando Llorca, executive president of the Caja, confirmed that the entity is in the process of studying the offers of both companies. The autonomous entity will have until next October to decide which insurer wins the contract. "

José Luis Loría, director of the CCSS, explained that " ... they are waiting for a detailed analysis of the asset capacity of both bidders to respond to a claim, as it was one of the unresolved doubts when the policy was chosen last year."

See tender.

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More on this topic

Tender for $3 Million in Insurance

August 2019

The Costa Rican Social Security Fund tenders all-risk insurance for the institutional patrimony.

Costa Rica Government Purchase 2019LA-000001-1121:

"The services requested include the acquisition of a comprehensive insurance, with coverage for all movable and immovable property of the Institution, including, but not limited to buildings, machinery, equipment, furniture, merchandise, collection of works of art, books and magazines not included in the accounting system of movable property of the Costa Rican Social Security Fund. The inventory of the buildings to be insured together with the amounts defined for contents is shown in Annex #1.

Tender: Medical and Life Insurance

September 2018

The Judicial Power in Honduras is putting out to tender collective life insurance and medical hospital policies for the institution's officials and employees at the national level.

Honduras Government Purchase L.Public No. 07-2018 Hospital Medical Insurance:

Another Insurer in Costa Rica

July 2012

Oceánica de Seguros, founded on Venezuelan capital, is the tenth insurance company to be incorporated into the Costa Rican market after its de-monopolization in 2008.

The superintendent of insurance, Javier Cascante, said the company, which is the eleventh to join the insurance market after its opening, will have a joint operating license, for personal and general policies.

Health Insurance in Costa Rica

February 2012

The Decline of the State Social Security Fund is forcing Costa Ricans to seek private health insurance.

Buying private health insurance could be an option for Costa Ricans in the face of deficiencies in the Social Security Fund (CCSS), a state health system that is ailing.

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