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Guatemala opens insurance market to foreign firms

Thursday, July 15, 2010


The Guatemalan Congress passed a new insurance law that that will allow foreign companies to operate in the market, in accordance with the Cafta rules.
 
The law establishes a code of conduct for brokers, and bans policies from companies that are not authorized to operate in Guatemala.
 
A $110 million back-up fund is also to be established to cover the insurance market.
 
Original source (in Spanish): Prensa Libre