2022 Insuralex report: Overview of reinsurance law in Latin America
Wednesday, 19 January 2022
Insurance companies, like many others, are exposed to multiple risks and, therefore, they are concerned about having mechanisms to ensure their operations, avoiding that, in the event of a large loss, the exposure of their patrimony becomes greater. That is why reinsurance is such an important contract in insurance markets worldwide. It helps to (i)
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FIDES launches insurance regulatory report in collaboration with Insuralex
Wednesday, 27 October 2021
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
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2021 Insuralex report: Insurers ´subrogation in Latin America: An overview
Tuesday, 19 October 2021
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
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2021 Criminal prosecution of insurance fraud in LatAm
Wednesday, 09 June 2021
One of the great challenges facing insurers today is to have effective tools against insurance fraud. To this purpose, some Latin American countries have opted to include this type of conduct as a crime in their criminal law. Others, on the other hand, have opted for a generic criminal offense, such as fraud, which could
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2021 Liability insurance in Latin America: An overview
Monday, 08 March 2021
Liability insurance is one of the main lines of business in Latin America. It comprises several risk-transferred based products to offer depending on the insureds’ special needs and the liability regimes applicable under each jurisdiction. For this publication, the Latin-American members of Insuralex made a legal overview of the key aspects of the regulation and
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2020 Insurance digital commercialization in Latin America report
Monday, 07 September 2020
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
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2020 (Re) Insurance arbitration in Latin America report
Wednesday, 17 June 2020
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
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2020: Taxation on reinsurance premiums in Latin America
Tuesday, 31 March 2020
The world’s main reinsurance markets typically provide its services on a cross-border basis for Latin American based cedants, considering that the reinsuring capacity within the region is limited, in comparison to the insurance companies’ demand. Consequently, these cross-border transactions imply taxation difficulties for the local governments of the country where the cedants are domiciled, as
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2020 Parametric Insurance in Latin America: An overview
Wednesday, 15 January 2020
The use of parametric insurance as an alternative to traditional indemnity-based insurance has increased over the last twenty years, particularly as a mechanism for insuring against extreme weather risks. Following the aforementioned increasement, parametric insurances in Latin America have not received a standardized legal treatment from the local regulators. Every country has developed its applicable
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