Insurers are obliged to cover accidents involving alcohol consumption after Congress approved a bill on its third reading.
From a statement issued by the National Assembly of Panama:
Bill No. 232, which imposes rules for obtaining a certificate of vehicle inspection to act as an insurance policy that includes coverage for accidents resulting from the consumption of alcohol, was approved on its third reading by the full National Assembly.
Two years after the amendment to the Law of the sector, the insurance market covering risks for short periods at low costs has been consolidated.
Banks and supermarkets are some of the outlets that insurance companies use to market a product that has established itself as a commercial operation with a low risk for insurers.
"The results of the implementation of Law 12 of April 3, 2012 are apparent to Jorge Barreiro Troitiño, corporate vice president of Nacional de Seguros, who said that just after 2012 the number of customers the company has increased by 50%, reaching 80,000 customers. "
During the first half of 2012, the insurance sector in Latin America had a premium volume of $77,085 million, maintaining growth rates of two digits.
According to César Quevedo, deputy director of the Institute of Science at Seguro de Fundación Mapfre, the insurance industry is "key" to this global market.
On presenting the report, "The Latin American insurance market," the official noted that this "is a key region for the present and future in global insurance."
Central American heavy load carries are opposing the payment of third party insurance demanded by Mexican authorities.
The $18 charge for compulsory insurance imposed by the Mexican government is concerning heavy load carriers in Central America who are threatening to set up a road block next Thursday for an indefinite period of time. This strike would be carried out one day before the measure is implemented.