Covid 19 has impacted social dynamics around the world in multiple ways. Unfortunately, one of them has been the death of thousands of people. For the insurance industry, this has represented a dramatic increase in the levels of life insurance claims and compensation payments. However, it has also represented an increase in the purchase of these products due to people’s awareness of the importance of having economic protection mechanisms should there be a high level of risk of death.
Due to its current importance, Insuralex LatAm exclusive members have prepared this report in which you will find the responses to multiple questions related to life insurance regulations. It becomes evident the differences that exist between the jurisdictions in matters such as (i) the obligation of insurers to perform medical examinations to the insurer prior to the issuance of life insurance, (ii) the authority of the insurer to revoke the insurance, (iii) the contracting of life insurances abroad, and (iv) the designation of beneficiaries by law, among others.
About Insuralex Latin America:
Insuralex Latin American insurance law practice covers countries such as Argentina, Bolivia, Brazil, Chile, Colombia, Costa Rica, Dominican Republic, Ecuador, Guatemala, Mexico, Panama, Paraguay, Peru, Uruguay and Venezuela.
Founded in 2002, Insuralex (Trusted International Legal Advisors for (Re) Insurance) is an association of more than 50 independent law firms from Europe, North America, Latin America, Africa, Asia and the Middle East specializing in insurance coverage and reinsurance, defense, litigation and all other related legal services.
Insuralex serves a broad range of clients, including insurance and reinsurance companies, Lloyd’s syndicates, insurance and reinsurance brokers, and captives and self-insured companies.
Insuralex is an elite association of insurance law firms, and membership is difficult to obtain. Each Insuralex member is considered a leading law firm in that specialty in their country.
Insuralex is known for the outstanding quality of its member firms and is recognized as such year after year by the Chambers & Partners Guide.
Insuralex is the only international network specializing in insurance to be ranked as a Leading Law Firm Network by Global Chambers.
Download the report: 2022 Overview of Life Insurance Law in Latin America: