Transporte Masivo de Panama S.A. is bidding for the insurance of special risks, whose policy term must be of 24 months and the total insured amount is $75 million at first risk.
Panama Government Purchase 2021-2-81-01-08-LP-003116:
"The special risks insurance policy must be composed of the following sections:
I. Fire - Physical loss and/or damage including catastrophic risk.
In Costa Rica, the Commission to Promote Competition stated that they do not agree with any type of exclusivity in the emergency medical insurance market for inbound tourism.
The Commission recommends not to allow initiatives that establish as a mandatory requirement for travelers, a medical insurance for inbound tourism, as it could detract from the country's competitiveness and increase the cost of traveling to Costa Rica.
Empresa de Transmision Electrica bids the collective health and life insurance policy for the institution's employees and retirees of the former IRHE, for a term of 5 years.
Panama Government Purchase 2021-2-78-0-08-LP-013153:
"Purpose of the contract:
(a) Collective Health Insurance Policy for the collaborators of Empresa de Transmision Electrica, S.
The Social Security Institute bids the all-risk insurance policy for real estate, furniture, equipment, physical inventory, office equipment and computer equipment of the central warehouse and areas rented by the institution.
Honduras Government Purchase LPN-006-2021:
"The insurance policy covers personal property owned by the Insured from all damage, physical loss caused by the following risks:
Since the borders were reopened and the country began to receive visitors, tourists have purchased more international policies, a situation that could be explained by the lower prices compared to insurance offered locally.
Data from the Costa Rican Ministry of Health show that between August 1, 2020 and February 11, 2021, 209,779 health insurance policies have been filed.
The Supreme Court of Justice tenders hospital medical and life insurance policies for the 9,390 employees of the institution.
El Salvador Government Purchase LP 11/2021:
"Collective hospital medical insurance is required, which shall have as mandatory benefits outpatient consultation with out-of-network Doctors up to $35. The Company shall respect the medical indications issued in prescriptions, covering the medication according to the diagnosis presented, with a limit of 8 consultations per policy year for each insured, and the Insurance Administration Department may request additional consultations according to severity of the diagnosis.
The increasing importation of used vehicles, the increase in the number of motorcycles and the perception that the risk to which drivers are exposed is low, are some of the reasons that explain why the penetration of vehicle insurance in the Guatemalan market is still only 10%.
According to data from the Superintendence of Tax Administration (SAT) at the end of 2020 there were 4.11 million vehicles registered nationwide, this figure exceeded by 8% the 3.79 million reported at the end of 2019.
As a result of the damage and losses caused by covid-19 and tropical storms Iota and Eta, insurers in Guatemala have received compensation claims of about $65 million.
According to statistics from the Guatemalan Association of Insurance Institutions (Agis), due to the Eta storm, up to November 30th, 1.005 claims were reported for floods or slopes, which amounted to about $32 million.
Following the reform of government agreement 17-2020, the entry into force of the regulation requiring passenger and cargo transport units to take out civil liability insurance was delayed for one year in Guatemala.
Despite the impact of the crisis caused by the covid-19 outbreak, between January and June 2020, income generated by net premium sales in El Salvador increased by 2%.
Data provided by directors of the Salvadoran Association of Insurance Companies (ASES), highlights that in the first half of the year net premiums were sold in the country for $345 million, an amount that is 2.3% higher than that reported for the same period in 2019.
The current scenario of reactivation of commercial flights and tourist activities, are an opportunity for insurers to increase their sales, since the hiring of a policy is a mandatory requirement for tourists to be allowed to travel.
Products that offer a refund in the event of having to cancel the trip due to illness, as well as coverage at the destination if the person becomes ill, both for medical expenses and for lodging in case a quarantine is needed, constitute a great opportunity in this context of the spread of covid-19.
Although the covid-19 outbreak in Guatemala has increased interest in medical and life insurance, it is expected that because of the economic crisis, group insurance sales will be affected.
Figures revealed by directors of the Guatemalan Association of Insurance Institutions (AGIS), detail that so far the months with the highest incidence of positive cases have been June and July.
Metro de Panamá S.A. bids the policies for the operation of Line 1 and Line 2, for a 24-month term.
Panama Government Purchase 2020-2-80-0-08-LP-003124
"Some of the services required:
-Contracting the reinsurance program
-Emission of required policies and endorsements
-Collection of the premiums generated by the policies
-Care and payment of the claims covered under the contracted policies
Because Costa Rica requires foreign visitors to take out a local policy, which costs more than $275 for a two-week stay, tour operators are asking that insurance taken out abroad be accepted as an incentive for tourist arrivals.
After more than four months of the country's borders being closed to tourists, commercial flights resumed on Aug. 3 with the arrival of an Iberia plane carrying more than 200 passengers from Spain.