An analysis of the determining factors of insurance penetration levels. The insurance penetration index, beyond the quantitative relationship that associates insurance premiums with the gross domestic product of a country, is an indicator of the way in which a company uses insurance as a mechanism to give stability to economic and social activity through the protection and compensation of risks …

When a crisis unfolded at the Guatapé hydroelectric plant, the experienced and speedy response of the insurance industry was critical, as Juan G. Uribe, managing director at RTS International Loss Adjusters, explains.   What does Guatapé represent for the insurance industry? Guatapé hydroelectric plant, owned by the utility Empresas Públicas de Medellín (epm), is one of the most important power …

A children’s hospital in hurricane-battered Puerto Rico has had its power restored thanks to electric-carmaker Tesla. The Hospital del Niño in San Juan, which has at least 35 critically ill patients, has been in dire need of electricity ever since the US territory’s  energy infrastructure was deciminated by Hurricane María last month. “Hospital del Niño is first of many solar+storage projects going live. …

RGL Forensics has a Catastrophe Response Team on the ground in Puerto Rico following the devastation inflicted by Hurricane Maria. Carlos Rivera, partner in RGL’s Miami Office and co-chair of the firm’s LatAm practice, recounts his experience. As storm waters recede and debris is cleared, residents and communities begin the task of putting their lives and businesses back together. But …

Foto: Uber Uber contrató a Seguros Sura y Axa Seguros México para proteger todos los viajes realizados a través de su aplicación. Desde el 2 de octubre de 2017, los viajes en la Ciudad de México y el Estado de México están cubiertos por Seguros Sura y aquellos en el resto de las 35 ciudades del país donde Uber tiene …

At McLarens we are always proud to announce growth in our organisation. We are reinforcing our presence in the Latin America region with the opening of a service location in São Paulo under the supervision of Clodoaldo Azevedo, Country Manager – Brazil. In further commitment to our clients in Latin America, we have appointed Nydia Diaz as Business Development Executive – Latin America. She is based out …

Tropical Storm Nate  is strengthening as it hurtles towards Mexico and the US. It currently has maximum sustained winds of 45mph and is moving at 12mph in a northwesterly direction. The NOAA said in its 2am update: “On the forecast track, the center of Nate will move over the Gulf of Honduras and across the northwestern Caribbean Sea today, and …

The White House has approved a request to waive the Jones Act for Puerto Rico, White House press secretary Sarah Sanders said Thursday. “At @ricardorossello request, @POTUS has authorized the Jones Act be waived for Puerto Rico. It will go into effect immediately,” Sanders tweeted Thursday. Puerto Rico Gov. Ricardo Rossello said he asked the White House on Wednesday to …

There were two explosions at a significantly large hydroelectical power plant in South America. A fire ensued and upon first review by insurers and loss adjusters this could have been a total loss in the range of hundreds of millions. As a result of intense mitigation activity on the part of the facility, supported by (re)insurers, which included negotiations at …

‘Potentially catastrophic’ Hurricane Irma nears eastern Caribbean islands FLORIDA is under a state of emergency with the latest track models showing that Hurricane Irma will head towards the US state after battering the Caribbean. NOAA National Hurricane Center (NHC) Category 5 Hurricane Irma made landfall over the Caribbean island Barbuda in the early hours of the morning as it began to …

So called “cyber” insurance policies are some of the most complex policies that an agent or broker will be asked to evaluate. Such policies often have multiple insuring agreements, cascading policy definitions and may even have a mix of claims-made, occurrence and ‘incident-discovered’ triggers applicable to different coverage parts. Compounding matters, there are no standard policy forms in the market. For that matter, …

Important notice: Due to the damage and general affectation caused by Hurricane Irma to South Florida, we have suspended the “Seminar CAR / EAR Insurance in Latin America 2017”. Advanta will reschedule this seminar and let all the interested know very soon. Thanks for understanding. Jose Miguel Varela. Director.  Deeming the relevance of CAR/EAR policies and its substantial impact in …

According to Travel Security Strategies LATAM it is difficult to compare crime rates across the world, because of the different legal interpretations, but murder is practically the same in any part of the world because there is a specific victim, a countable aspect. Six of the countries with highest murder rates in the world are in Central and South America: …

Homenaje a Don Enrique Gich, gran abogado de seguros en LATAM No nos damos cuenta en la industria del seguro de LATAM. O quizás no queremos darnos cuenta. Hoy una reunión de mercado en México, mañana Brasil, cocktail en Miami, conferencia en Madrid y paso por Londres para visitar clientes. Si da tiempo, pasamos por Bogotá y por Santiago de …

El Índice global del mercado de seguros de Marsh corresponde a un análisis comparativo patentado sobre los cambios en la tasa de las primas de seguros comerciales en relación con su renovación, que representa el principal mercado asegurador del mundo y abarca el 90 % de las primas de Marsh. Este índice recopila las fluctuaciones de las tasas durante todo …