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:
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.
The Universidad Nacional Autonoma tenders the supply of an insurance policy for several motor vehicles owned by the institution.
Honduras Government Purchase LPN No.31-2019-SEAF-UNAH:
"In case of theft, a co-insurance of 20% is requested and the insurance company will pay 80% of the insured amount, without deducting any amount for introduction taxes and others, in the case of those vehicles that have GPS installed the co-insurance will be reduced to 2%.
The Empresa Nacional de Energía Electrica de Honduras tenders the insurance policy for the assets of the institution.
Honduras Government Purchase LPN-100-025-2019:
"This policy shall cover sudden or unforeseen material damage caused to the property of the Insured or in which he has an insurable interest or for which he is legally responsible.
Grupo Unity, a regional insurance broker in Central America, will be acquired by Willis Towers Watson, a company specializing in risk management and insurance brokerage.
According to a press release from Willis Towers Watson, the objective of the transaction "...is to increase the reach, scale and talent of Willis Towers Watson in the Latin American region, both for the Corporate Risk and Brokerage (CRB) segment, and for Human Capital and Benefits (HCB)."
Except for Nicaragua, which projects a decline in revenues, Fitch Ratings estimates that by year-end the region's insurance markets will have grown from 3% to 8%.
According to the report Perspectives of Insurance Industry in Central America, prepared by the rating agency Fitch Ratings, El Salvador will be the market that in 2019 will register more dynamism in the region, reporting an 8% increase over revenues reported in 2018.
The Honduran Banking and Insurance Commission tenders the fire insurance policy and related lines for furniture and office equipment, electronic fixed and portable, for the years 2020 and 2021.
Honduras Government Purchase LP-CNBS-02-2019:
"Contracting of an insurance policy to protect the Furniture and Office Equipment of the CNBS located in the cities of Tegucigalpa, MDC, San Pedro Sula and Choluteca; likewise, the goods that are moved between buildings, for a term of two years.
Customers who are guided by immediacy and technology, who are also more focused on travel than buying health or life insurance, force insurers to reinvent their processes to continue increasing their sales.
Because the population group known as the "millennials," which is made up of customers who like to keep up with the buying process and are not willing to wait, companies must transform to keep up with their sales pace.
The group fidelity insurance policy to protect the funds and assets of the Central Bank is tendered for the period from December 31, 2019 to January 26, 2022.
Honduras Government Purchase LPública No.32-2019:
"The exact period to be covered is from December 31, 2019, at twelve noon (12:00 m.) to January 26, 2022 at twelve midnight (12:00 a.m.).
The closing date for clarifications is September 20, 2019.
Fitch Ratings forecasts that the insurance sector in Central America will close 2018 with a year-on-year increase of almost 6% and expects that in 2019 the business will reach a very similar growth rate.
The projected increase for 2018 and 2019 would be based on the behavior of the Panama, Costa Rica and Guatemala markets, however, the increases of 5.8% and 6.1% forecast for 2018 and 2019, respectively, would represent a slowdown regarding the 8.2% growth registered in 2017.
The National Electric Power Company tenders the provision of a life insurance policy for permanent and retired employees of the institution.
Honduras Government Purchase LPN-100-018-2018:
"Number of employees in detail:
- Permanent employees: 1,689
- ENEE Retirees and Pensioners: 657
In the event of the natural death of an insured person (whether caused by illness, murder or manslaughter or presumed death) the insurance company will pay the agreed sum insured. In the event of the accidental death of an insured person, the insurance company will pay double the sum insured for natural death."
Explained by the behavior of the Costa Rican market, in 2017 Central American insurers received $5.02 billion in premiums, 7% more than in 2016.
According to a report drawn up by Revista Desempeño Asegurador, in 2017 "... insurance sales in the region expressed an absolute increase of US $334.7 million, an amount that represented a rise of 7.1% compared to sales in 2016."
Projections are that this year growth of the Central American insurance sector will be driven by activities in the markets of Costa Rica and Guatemala.
From the report "Prospects 2018: Insurance Sector in Central America" by Fitch Ratings:
Stable Rating Perspective:The rating outlook for the Central Americaninsurancesectoris stable for 2018, given that most of the rated companies maintain a stable outlook on an individual basis.Fitch Ratings believes that the sector shows stable fundamentals, as a result of good profitability levels and high liquidity and capitalization indicators in all countries, which it expects to continue to be reflected in solid balance sheets in companies.
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."
The National Vocational Training Institute in Honduras is putting out to tender collective insurance of medical and living expenses for its personnel, and insurance for buildings, equipment and the vehicle fleet.