Nicaragua: insurance sector responds to clear rules
Wednesday, September 19, 2012

Nicaragua's General Law of Insurance, Reassurance and Guarantees became effective two years ago. But this year, investments in the insurance sector - including commitments by foreign companies - are growing noticeably, in part because of greater legal certainty.
In addition, the law prohibits the sale of policies in Nicaragua, by companies which are not locally approved and registered.
An interesting aspect of the new rules, is that they contemplate policies, which take into account the fact that millions of Nicaraguans have little purchasing power.
One of the rules is intended to make coverage more accessible, but letting retailers sell policies issues by registered insurers, at affordable prices.
Another approach involves so-called micro policies set out rules, which let insurers cover special or limited risks of small and often informal businesses, including equipment and installations.
For more information please contact Maria Alejandra Sanchez at [email protected] or (504) 2254-5454 ext 136.