Vice Prevention and Public Safety, Nestor Reverol, said he is working on an expedited basis for the activation of this fund in order to begin as soon as the collection process, as established by law
The country's insurance companies will catch up with the National Fire Fund in the allocation of 1% of premiums on account of fire, for equipment and training of local and state firefighting corps in the country.
This was announced on Monday Deputy of Prevention and Public Safety, Nestor Reverol, during the installation of four working groups for the formation of the National Fire and Emergency Management Fire and Civil Character, held at the headquarters of Petroleos de Venezuela, The Countryside (Caracas). He noted that it is working on an expedited basis for the activation of this fund in order to begin as soon as the collection process, as established by law
The Law of Fire and Emergency Management Fire and Civil Character , in force since 2001, provides in Article No. 39 the contribution of 1% the amount of premiums charged insurance policies by insurance companies in the field of fire. Reverol, said that in the coming days will be meeting with the National Superintendency of Insurance to channel these efforts so that these resources begin to be allocated to the various pieces of firefighting nationwide. General direction
fire will create
Reverol, said that through the discussion in working groups will be formed the National Fire Administration and Fire and Civil nature, which will be attached to the Vice Ministry of Prevention and Public Safety. He explained that through this address functions and approve national standards bodies of the various firefighting and civil protection workers in the protection of public safety at special events. In these tables consists of approximately 126 fire organizations and the various heads of Civil Protection, around the country.
Among the topics will be discussed during this event is: the creation of the National Fire Fund, the new structure of the National Fire Commanders and the Draft Law on the Status of fire-fighting role. Deputy Minister of Prevention and Public Safety, said activity is part of the policies promoted by the national government to dignify fire fighters from across the country.
"With this we are dignifying these men and women who are dedicated individuals who sacrifice their lives daily and are always alert to any public calamity, and to any event and who deserve the respect of the Venezuelan people," said Nestor Reverol.
Constitution reserves for insurance and reinsurance.
As published in Official Gazette No. 39645, dated March 30, 2011, on the Norms on the Opportunity to create and maintain technical reserves, as well as Form and terms of insurance and reinsurance companies shall be reported to the Superintendency of Insurance Activity, provides that the insurance and reinsurance operating in the individual life business must establish and maintain a Reserve mathematics. From the time of assumption of risk, calculated in accordance with the actuarial rules has been developed for each type of insurance.
This reserve should be recorded monthly and should reflect both analytical monthly financial statements as in annual financial statements to be sent to the Superintendent of Insurance Activities.
insurers operating in general insurance and group life insurance, they must establish and maintain a reserve for unexpired risks, from the time of premium collection. Same reinsurers that have accepted risks of individual life insurance in the form 'risk premium'. Similarly, should appear recorded in the financial statements.
Article N ° 3, that law, states must form a reserve for claims and outstanding claims, which should include the outstanding obligations to third parties who have complied with the insurance companies and policyholders from the time of notification of the incident.
Also, it must be a reserve occurred and non-notified at the end of each month, determined in accordance with the experience of each company. This reserve should not be less than three percent of the reserves for claims and outstanding claims. And it should be available to the Superintendent, the method of calculating this reserve. Finally, it must conform to catastrophic risk reserves, the recovery of the first premium, and a reserve for reimbursement from experience favorable contracts that are agreed that benefit and shall also be formed after the payment of the premium.
Constitution reserves for insurance and reinsurance.
As published in Official Gazette No. 39645, dated March 30, 2011, on the Norms on the Opportunity to create and maintain technical reserves, and the form and terms Enterprises Insurance and Reinsurance shall be reported to the Superintendency of Insurance Activity, provides that the insurance and reinsurance operating in the individual life business must establish and maintain a Reserve mathematics. From the time of assumption of risk, calculated in accordance with the actuarial rules has been developed for each type of insurance.
This reservation, you must register monthly and should be reflected both in the financial statements and monthly analytical in annual financial statements to be sent to the Superintendent of Insurance Activities.
insurers operating in general insurance and group life insurance, they must establish and maintain a reserve for unexpired risks, from the time of premium collection. Same reinsurers that have accepted risks of individual life insurance in the form 'risk premium'. Similarly, should appear recorded in the financial statements.
Article N ° 3, that law, states must form a reserve for claims and outstanding claims in which must include the outstanding obligations to third parties who have complied with the insurance companies and policyholders, from the time of notification of the incident.
Also, it must be a reserve and not reported occurred at the close of each month, determined in accordance with the experience of each company. This reserve should not be less than three percent of the reserves for claims and outstanding claims. And it should be available to the Superintendent, the method of calculating this reserve. Finally, it must conform to catastrophic risk reserves, the recovery of the first premium, and a reserve for reimbursement from experience favorable contracts in which this benefit has been agreed and shall also be formed after the payment of the premium.
Elect new board of the Chamber of Insurers Venezuela.
After conducting its Annual General Meeting, the Insurance Chamber Venezuela elected on Tuesday March 22 the new Board for 2011-2012.
For this new stage, Miguel Reyes (be sure), will become chairman of the Board and Gustavo Luengo (Caracas Liberty Mutual Insurance) will serve as vice president. As directors Alberto will Benshimol (Commercial Insurance), Alberto Berges (Mapfre Security), Pedro Luis Garmendia (Banesco Insurance), Gonzalo Lauria (Oriental Insurance), Carlos Luengo (Zurich Insurance), Carlos Moniz (Interbank Seguros), Rafael Peña (Insurance New World) and Alicia Salas (Reinsurance Delta).
also continue as Directors Scharifker Permanent Gregorio and Juan Blanco Uribe. In the Executive Presidency remains Alesia Rodriguez Pardo. True to its motto "Uniting Efforts", the new management team of the Insurance Chamber of Venezuela, will have among its responsibilities to encourage, develop and represent insurance companies country.
is how the elected leaders continue to meet corporate objectives to disseminate broadly the scope of insurance benefits and importance of the insurance business.
Insurance Superintendency Banesco sanctions, Interbank and Caracas.
insurance, Interbank and Caracas were sanctioned by the Superintendency of Insurance Activity for increased premiums without prior notice to the agency. This was established in Rulings published in the Official Gazette No. 39,638 of March 21, 2011, published today.
According to the Gazette, Banesco Insurance must pay a fine of 20,950 Bolivars, Interbank Insurance must cancel Bs.F. 14,750 and Liberty Mutual Insurance Bs.F. Caracas 25,000. The sanctions were imposed for breach of Article 66 of the Insurance Activity Act, which provides that any increase in premiums should be reported to the superintendent
sector According to the Gazette, Banesco Insurance must pay a fine of 20,950 Bolivars, Interbank Insurance must cancel Bs.F. 14,750 and Liberty Mutual Insurance Bs.F. Caracas 25,000. The sanctions were imposed for breach of Article 66 of the Insurance Activity Act, which provides that any increase in premiums should be reported to the superintendent
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