FIDES (Federación Interamericana de Empresas de Seguros) has launched a report on insurance regulatory matters in the countries where FIDES has member insurer associations. FIDES represents 18 Latin American countries as well as Spain and The United States. Topics include: Licensing requirements for setting up insurers Regulatory and financial information Solvency requirements Supervision Distribution channels Reinsurance Investments Microinsurance regulations Cyber …

The right of subrogation of insurers is a common institution in most Latin American countries. However, although in all cases law establishes the right, the conditions regulating its exercise differ in each country. For instance, in some jurisdictions the right of subrogation applies to any insurance type, while in others certain types of insurance are excluded. Moreover, while in some …

Insuralex is launching a new free webinar: Insurance market in Ibero-America: responses in the post-COVID world   The COVID pandemic that hit the world in 2020 not only shook global health systems, but also impacted with particularly serious consequences in all economic sectors of society. The challenges posed for thousands of companies and states are not yet fully known. However, …

QBE Re the reinsurance branch of the Australian insurer, announced the opening of a new Colombian office and a key regional hire to support local reinsurance in Latin America. The new office will be located in Bogota, Colombia, and will write life reinsurance business. It will be led by Christian Hofmann, who has been appointed Client Manager (Latam Life) for QBE Re. …

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 …

Save the date! Colombia | September 5th 2018 | “Los riesgos cibernéticos y su asegurabilidad en Latinoamérica” Insuralex Programme, speakers and registrations will be published soon. Insuralex is an affiliation of independent and Chambers awarded law firms. Its members are all recognized by their peers in their own jurisdictions as expert in the fields of insurance, reinsurance and defence litigation. Insuralex currently have …

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 …

Hannover Re parent Talanx will buy 90 percent stake in Italian insurer Generali’s Colombian business to further expand its presence in the Latin American region. “For Talanx, the acquisition of Generali Colombia is a strategic step to open up the fifth largest Latin American market. For us, this means further strengthening our position in the target region,” said Torsten Leue, …