Insurance for Companies

A company whose assets are not insured is like a tight-rope walker without a net: any mistake could mean death.

Friday, August 20, 2010

There are three kinds of corporate insurance. While not all companies may benefit from all kinds of protection, they are likely to need at least one in order to cover all the risks to which they are exposed.

Insurance policies for companies include everything from coverage against workers' compensation claims to protection against executive kidnappings. With so many options available, businesses need to analyze their needs carefully and balance the cost of premiums relative to the cost of a given risk.

More on this topic

ASSA to Acquire AIG Operations in Central America

October 2015

ASSA Compañía Tenedora, S.A. and ASSA Compañía de Seguros (ASSA) and American International Group, Inc. (NYSE:AIG) today announced that they have entered into a share purchase agreement under which, ASSA will acquire 100 percent of AIG’s operations in Central America located in El Salvador, Guatemala, Honduras and Panama.

The transaction is subject to regulatory approvals in each country.

Insurance Market in Costa Rica up to March 2014

May 2014

The state run Nacional de Seguros and PanAmerican Life share 88% of the market in the segment of accident and health policies.

The segment for Accident and Health policies showed that up to March 2014 the majority market share was held by Instituto Nacional de Seguros (INS) with 46.4% and 41.7% was held by Pan American Life, according to the Superintendent of Insurance (SUGESE).

Panamanian Insurers After Women’s Market

April 2009

They offer specials such as discounts and vouchers for cosmetic surgery to women who acquire vehicle insurance.

According to the Panamanian Superintendent of Insurance, women are attractive as customers because they have a lower risk of accidents.

That is why insurance companies offer discounts and coupons exclusively for women such as a 50% deductible discount, vouchers for cosmetic surgery or discounts of up to 5% if you are an executive older than 25.

Annual Nicaraguan Insurance Sector Report

April 2009

There was an improvement in accident rates and operating performance in the Nicaraguan insurance sector in 2008, as reported by Fitch in a special report.

Thanks to the growth in insurance premiums in the period and progress in costs and accident rates, the sector was able to overcome the operating loss that occurred last year (especially the state insurance company), registering a combined index of 96.3% in 2008 compared to 103.7% in 2007. The good operating performance has enabled the sector to more than offset the decrease in net financial income contribution (by private insurance companies in particular) and impact on the greater overall profitability. The expected decrease in the level of economic activity and thus in the sales of insurances implies a major challenge for the sector and for protection of the progress achieved in the short term. At the close of the previous year, net insurance premiums totaled C$2.1 million, 14.0% above the amount registered in 2007. The faster growth in the case of private insurance companies (17.1%) is worth noting, taking into account the significant growth in premiums of Metropolitana Life Insurance Company (35.1%) and Lafise Insurance (25.7%). For its part, the INISER (Nicaraguan Insurance Institute) experienced a growth of 8.6%. The positive growth of the sector has been primarily in the business of auto and life insurance.

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