Read more +19 January 2022 By Insuralex in News + Articles, Reports

2022 Insuralex report: Overview of reinsurance law in Latin America

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)
Read more +27 October 2021 By Insuralex in News + Articles, Reports

FIDES launches insurance regulatory report in collaboration with Insuralex

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
Read more +19 October 2021 By Insuralex in News + Articles, Reports

2021 Insuralex report: Insurers ´subrogation in Latin America: An overview

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
Read more +09 June 2021 By Insuralex in News + Articles, Reports

2021 Criminal prosecution of insurance fraud in LatAm

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
Read more +08 March 2021 By Insuralex in Reports

2021 Liability insurance in Latin America: An overview

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
Read more +07 September 2020 By Insuralex in Reports

2020 Insurance digital commercialization in Latin America report

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
Read more +17 June 2020 By Insuralex in News + Articles, Reports

2020 (Re) Insurance arbitration in Latin America report

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
Read more +31 March 2020 By Insuralex in News + Articles, Reports

2020: Taxation on reinsurance premiums in Latin America

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
Read more +15 January 2020 By Insuralex in News + Articles, Reports

2020 Parametric Insurance in Latin America: An overview

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