Limited Supply of Mobile Phone Insurance

Despite the entry of new insurers, in Costa Rica there are few options for insuring small appliances.

Monday, October 8, 2012

At the moment, only the National Insurance Institute of Costa Rica offers policies to insure this type of device, which has an annual cost of ¢15.000 colones ($30) and covers up to ¢500,000 ($1,000).

According to a survey by the newspaper La Nacion, "other companies such as Assa and Mapfre also give coverage, however, these are restricted because they are directed at electronic equipment of a larger size or because they are designed to insure various pieces of equipment and not just one."

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Costa Rica: The State Still Buys Insurance from INS

August 2012

Despite the de-monopolization of the market four years ago, state institutions continue to obtain their insurance with the National Insurance Institute (INS).

An article in reports that "Although the Law Regulating the Insurance Market (LRMS) leaves open the possibility for public sector entities to buy private insurance policies, few enterprises have contracted their services."

Panamanian Insurer Enters Colombia

May 2012

Grupo Assa is the largest shareholder of Cardinal Insurance, a company that began operations in Colombia offering compliance, guarantees and legal liability policies.

Grupo Assa of Panama has entered the insurance market in Colombia under the banner of Cardinal Insurance, after a successful expansion in Costa Rica, El Salvador and Nicaragua.

Costa Rica’s Insurance Market

October 2011

In the newly privatised insurance market, companies are competing with the National Insurance Institute (INS in Spanish) to increase their portfolios.

Last June, according to the premium income figures, registered insurance lines and assets, INS was first, followed by Assa and Alico with its life and health insurance lines.

Costa Rica: More Choice for "Easy" Insurance

April 2011

There are ever more alternatives for easy subscription insurance policies in the country.

The opening of the Costa Rican insurance market has not only increased the number of companies offering policies, it has also widened the range of products available to Costa Ricans.

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