Markel Corporation announced today that Adriana Belli has joined the company as Managing Director, Property, Marine and Select Risk (PMSR) Claims Division. In this role, she will oversee all aspects of the PMSR Claims Division, managing a team of more than 80 claims professionals throughout the United States. “We’re excited to welcome Adriana to Markel. She has a successful track …

Insuralex´s exclusive member in Colombia comments on the Draft decree regarding D&O policies on a claims made basis   The Colombian Ministry of Finance has published a draft decree intending to regulate the operation of the D&O policies on a claims made basis. The Ministry of Finance has published for comments a draft decree by which a new article will …

Insuralex´s exclusive member in the UK publishes a summary and analysis of the judgment in the FCA business interruption insurance test case   Following the hearing of the FCA business interruption insurance test case, which commenced on 20 July 2020 (you can read our summary of the hearing and the background to the claim here), the High Court handed down …

A legal overview Digital commercialization for insurers in Latin America ceased to be a long-term development project to became a top priority to them. It gained special relevance during the year 2020 due to the Covid-19 pandemic, whose effects prevented the insurance market from commercializing its products through the customary mechanisms. As jurisdictions in Latin America have several regulatory approaches …

As in previous editions, this Fundación Mapfre´s ranking classifies the main insurance groups operating in Latin America by premium volume, considering the total market as well as Life and Non-Life segments. This report provides a dynamic vision of said insurance groups’ growth, differentiating between structural trends (2009-2019) and conjectural situations related to annual performance (2018-2019). In addition, the last part …

This time we at iNLIP are putting together (one single post) 3 interesting Latin American Insurance Industry related reports by Insuralex (Global Insurance Lawyers Group) Please bear in mind that you can always search past published articles using the “search box” and also looking at the “categories” box. 1. 2020 Parametric Insurance in Latin America: An overview The use of parametric …

Tropical storm Amanda once again reminded us of our high exposure and vulnerability to disasters caused by natural disasters, now more frequent and severe as a consequence of climate change. The index-based insurances designed by MiCRO for El Salvador and Guatemala triggered payouts that will help affected clients recover faster. Extreme rainfall from May 27 to June 6 caused by …

The current situation of COVID-19 has created an unknown scenario for all companies, both large and small, as well as for professionals and employees. This unprecedented scenario has served to analyze the insurance coverage programs and business plans of all subjects involved in the economy. We are in a situation where legal rules and norms must coexist with health standards. …

MiCRO is recruiting a monitoring and evaluation specialist (M&E specialist) We won’t be modest about it – you are really going to enjoy working for MiCRO.  The rest of the team already does and wants to find like-minded colleagues to join us as we continue to expand. We are a small and dynamic social business whose work makes a difference …

MiCRO is recruiting a Senior IT Specialist! We won’t be modest about it – you are really going to enjoy working for MiCRO. The rest of the team already does and wants to find like-minded colleagues to join us as we continue to expand. We are a small and dynamic social business whose work makes a difference to the vulnerable …

“The main lines of business to benefit will be engineering and property premiums. There will also be increased demand for marine and liability insurance”. Beyond the global recession shock inflicted by the COVID-19 pandemic this year, emerging markets are forecast to grow by around 4.4% annually over the next decade, slower than the yearly average of 5.5% in 2010-19. Against …

How the Lloyd’s Market Works webinar recordings Over the last couple of weeks, Lloyd’s Regional Head for Latina America and the Caribbean Daniel Revilla and Lloyd’s Country Managers across the region delivered a seminar explaining “How the Lloyd’s Market Works”. Please see the links to the webpages where the webinars can be accessed: Brazil – https://www.lloyds.com/lloyds-around-the-world/americas/brazil/our-story Mexico – https://www.lloyds.com/lloyds-around-the-world/americas/mexico/our-story Colombia – …

The use of alternative dispute resolution mechanisms for insurance and reinsurance has become a growing practice in Latin America. In particular, arbitration has been widely accepted as offering flexibility, celerity and high qualified and specialized arbitrators, generating confidence, guaranteeing access to the administration of justice and relieving congestion in the ordinary jurisdiction Arbitration regulations in Latin America are not standardized …

iNLIP, proud Strategic Partner CQCS Innovation Latam is an international event, held in English, with simultaneous translation into Portuguese and Spanish looking to be a relevant connector of Latin American insurance professionals focused on insurance innovation, as well as to attract the main global players in the segment to interact with the organizers. CQCS Innovation Latam exists to assist all …

After successful pilots of an inclusive insurance product that helps families and microentrepreneurs to recover from the consequences of natural disasters in Guatemala and El Salvador, MiCRO started a regional expansion to maximize impact and reach scale Activities in the first expansion country, Colombia, are the result of a partnership with SBS Seguros Colombia S.A, and now with the valued …