Through eight financial institutions enterprises in the agricultural sector will have access to a collective crop insurance with Instituto Nacional de Seguros.
Some of the crops covered by this insurance are: rice (waterlogged, complementary irrigation and rainfed), squash, banana (organic and traditional), cocoa, coffee, Indian cane, sugarcane, onion, spicy export pepper, sweet pepper, beans, bulb flowers, leather leaf fern and hydroponic vegetables, corn, melon, watermelon for export, yam and taro for export, oil palm, potato, papaya, pepper, pineapple and plantain for export, Jaltepec burley tobacco, teak and melina , tiquizque, cassava, yampi, ñampí for export, and carrot.The list could be expanded on pending a study by the INS.
A state-run insurance company project aims to create an insurance group for crops in order to encourage the use of these policies, the costs of which are high due to the high risk they present.
The Ministry of Agriculture and Livestock (MAG) and the National Insurance Institute (INS) are backing the concept of group insurance for agricultural producers so that they can have increased access to crop insurance.
The Autonomous Executive Port Commission is putting out to tender policies for damage insurance, motor, loyalty, electronic equipment and collective life and medical insurance.
Government Purchase El Salvador DR-CAFTA CEPA LA-05/2015
The purpose of the tender is to hire one or more legal person (s) National (s) Foreign (s) or Union of bidders for the Procurement of Insurance Policies for damages- Package Policy, Motor Insurance , Collective Life Insurance - Medical insurance, Fidelity Insurance, Insurance for Electronic Equipment for the CEPA and FENADESAL for the period from twelve noon (12:00 m) of January 1, 2015 until twelve noon (12:00 m) from January 1, 2016.
In the first five months of the year the volume of premiums was $545 million, nearly $50 million more than in the same period in 2013.
Automobiles, with premiums of $94 million and Health, with premiums of $91.8 million, are the sectors that grew the most compared to the previous period, with increases of 9.83% and 17%, respectively.
Carlos Berguido, executive director of Asociación Panameña de Aseguradores, said in Prensa.com that "...
A report by SUGESE contains information on Basic Indicators, Market Structure and Participants and Products.
December 2012 Bulletin from the Superintendent of Insurance (SUGESE):
Basic Indicators
The total amount of direct premiums was ¢466.2 billion in 2012, with 69% of that amount corresponding to voluntary insurance. The retention of these total direct premiums compared to 2011 remained at 81% and the total retained earned premiums (allocated ) increased from 96% in 2011 to 91% in 2012.
At the end of last year, 2011, the insurance market reported a growth of 9.6% compared with 2010.
According to the National Commission for Banking and Insurance (CNBS), growth in premiums was $28.7 million.
"According to the insurance industry, the only decrease, of 4%, was in the general insurance section which includes vehicle and fire policies, ..." reported the Laprensa.hn