The opportunity to capture at least 1% of the more than 400,000 uninsured vehicles, is the basis of a commitment by Mapfre Guatemala, with which it will launch a insurance policy for 2009-2014 model vehicles.

Revistamyt.com reports that "The hook of the product includes coverage for medical expenses per passenger, Central American and Panamanian coverage or 50% deductible Mapfre Network workshops" according to Raul Vega, manager Automobile Insurance.

"... More realistically, the goal, based on an aggressive campaign, is to sell at least one policy a day and reach between 400 and 500 new customers in a year."

Source: Revista Mercados & Tendencias

More on this topic

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July 2019

From January to April of this year, $105 million in auto premiums were underwritten in Panama, 7% more than was reported in the same period in 2018, which is partly because of the modifications to the basic traffic accident insurance.

The latest report of the General Comptroller of the Republic states that between the first quarter of 2018 and the same period of 2019, the value of the premiums subscribed in the automobile branch grew from $98.1 million to $104.5 million, which is equivalent to a 6.5% increase.

Tender for Vehicle Insurance

February 2018

In Honduras, contracts are being sought for one year insurance policies to cover the vehicle fleets of the Ministry of Finance and the National Autonomous University.

Honduras Government Purchase LPN 03-2018-SEAF-UNAH:

"Provision of an insurance policy for several motor vehicles belonging to the National Autonomous University of Honduras, for coverage from April 2018 to April 2019."

Demonopolization of Mandatory Auto Insurance

January 2015

The Superintendency of Insurance in Costa Rica is planning to start the process of opening up the market for compulsory automobile insurance in the first quarter.

In order to liberalize the market for compulsory automobile insurance, there first needs to be a review and approval of a decree which will focus on the regulation of the sale of insurance from the National Insurance Institute (INS) to private companies.

Costa Rica: 3 Car Insurers Offer Policies

November 2010

As of December 1st Assa, Mapfre and the INS will compete for the auto insurance market.

Assa Insurance received on Friday approval to market its auto insurance policy.

"So, with the effective date of transit permits due and December around the corner, the three insurers will dispute the preference of car owners," writes Juan Pablo Arias from La Nación.