Insurance adjustment plan delivered to the Superintendent of Insurance Activities. Alesia RodrÃguez Pardo, chief executive of the Chamber of Insurers of Venezuela reported that before the end of the term, and over 90% sector companies have given up their plan of adjustment to the Superintendent of Insurance Activities. He also reiterated that as a next step, after the filing of adjustment plans, the Superintendent of Insurance Activities must approve adjustment actions proposed by each company, and only from the time that this regulatory body approves the plan submitted insurers may make any changes or proposed adjustment measures, with a period of six months from the approval of the Superintendent of the adjustment plan for implementation.
"We continue to reiterate to the community and to the insured and uninsured that while each company successfully introduced at the proper time adjustment plan, the challenge is set between the public and the private sector to resolve through the regulatory and prudential norms uncertainties and gaps that have the law passed, which bring legal implications, operational, financial and other areas of direct and indirect users of insurance products in the country, "said Rodriguez Pardo.
The chief executive of the CAV recalled that "from the date of approval of the insurance law of the country and have adhered to those indications that were implemented immediately, and companies associated with the Chamber of Insurers in Venezuela are making the necessary adjustments to computer systems, business process, booking, adequacy of products, among others, to comply with the law. "
BBVA and reinforce their MAPFRE Insurance distribution agreement in Latin America.
The agreement involves the marketing of products designed for both groups for distribution in over 3,600 offices in Latin America, BBVA BBVA and MAPFRE have strengthened the distribution agreement held in Latin America since 2002.
The new agreement strengthens local partnerships between companies of both groups, and covers a greater number of products with specific designs tailored to the needs of businesses in the region. The agreement, non-exclusive, establishing a long term relationship between the two groups that will allow sustainable and profitable growth over time, supported by high capacity networks for the distribution of bank BBVA, which has more than 3,600 outlets the Americas, and attractive products, competitive and designed for this specific channel.
The impetus to the relationship between the two groups applies also to the management of insurance risk, an aspect in which MAPFRE RE will provide preferential support policies of reinsurance.
The agreement, though global, is applied differently in each country, based on the regulations and local peculiarities and specific needs of each group entities. With this new agreement, BBVA and MAPFRE will leverage their relationship, as well as promoting business activity in Latin American countries, aims to reduce distribution costs, generate economies of scale and improved operational efficiency in the joint.
also establishes a global collaborative enterprise project, which will allow mutual benefit in the development of insurance business in America America.
ratify that insurance companies should not increase prices for policies.
Policies must be covered at 100% and should not apply to deductibles, as these represent the decline in insurance coverage, considered the vice chairman of the Finance Committee of the NA, Simon Escalona
Vice Chairman Finance Committee of the National Assembly, Simon Escalona said that adjustments to insurance companies, prepaid health and private medical Insurance Activity Act, established by a period of 180 days should not affect the prices of policies , increased deductibles or modification of contract terms without consultation.
So warned on Wednesday during a meeting conducted by the special committee of the National Assembly which evaluates the failure of insurance companies and clinics to the Law on Insurance Activity. Considered that the policies should be covered at 100% and should not apply to deductibles, as these represent the decline in insurance coverage.
explained that the period for which insurance companies are suited to the Act should not be understood as a space of time before insurance companies apliquern deductible and change the conditions of contracts are force.
added that insurance companies should not wait until the last day to submit to the Superintendent of Insurance plans conform to the law considers it necessary to apply greater scrutiny to such insurance companies, clinics and service providers
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