During the webinar, Omar Martín Córdova Cordoví (Insuralex Peru, Osterling abogados) and Sebastián Gómez (LLoyd´s) will analyze and discuss the exciting world of Lloyd’s Market and marine risks. In this specialized webinar, the speakers will explore the history and evolution of Lloyd’s Market, an international benchmark in the marine insurance sector. They will learn about the fundamental concepts that underpin …

The hospitality industry is a vital economic driver in Latin America and the Caribbean, employing millions of people and generating billions of dollars in revenue annually. However, this flourishing industry also faces inherent risks, particularly in the form of liability claims. Incidents such as slip and falls, swimming pool accidents, food poisoning, and criminal acts can result in significant financial …

iNLIP, proud Media Partner of FIDES Rio 2023   Learn more about the Brazilian insurance market, which is hosting FIDES Rio 2023 Brazil – the host of the next meeting of the Inter-American Federation of Insurance Companies (FIDES), the 38th Western Hemisphere Insurance Conference (FIDES Rio 2023) – is one of the most prominent insurance markets in Latin America. In …

Insuralex 2023 report: Anti-money laundering and terrorism finance controls – Obligations of Insurance Intermediaries Insuralex presents a comparative report that analyzes the role of insurance intermediaries in complying with anti-money laundering and terrorism finance controls in the insurance industry. This report is presented by Insuralex as a contribution to the Pan-American Confederation of Insurance Producers (COPAPROSE), as part of it …

The challenge of assessing the Loss of Sand from Hotel Beaches after a Hurricane   The beach replacement sub-limit  has special relevance in the Policies contracted by beachfront hotel resorts. The correct calculation of the volumes of sand displaced by the strength of the waves during the passage of Storms and Hurricanes represents an opportunity to comply with the Indemnity …

Talanx becomes one of the top insurers in Latin America through acquisition of companies from Liberty Mutual Acquisition of select Liberty Mutual Insurance Inc. businesses in Brazil, Chile, Colombia, and Ecuador Insuralex Colombia (Brigard Urrutia) and Insuralex Ecuador (Pérez, Bustamante & Ponce) advised HDI International moves up to third place in the property and casualty insurance market in Latin America …

News about Parametric insurance in Colombia Insuralex´s Exclusive Member in Colombia, Brigard Urrutia, explains: The law that includes the National Development Plan, approved in the last debate by the Senate of the Republic and the House of Representatives, contains 3 articles authorizing and regulating parametric insurance in Colombia. The law is pending to be signed by President Gustavo Petro. Article …

Marine Insurance: Quadra vs. XL Insurance On April 21st, 2023, the English Court of Appeals (from hereinafter, the “Court of Appeals”) issued judgment on the case N° CA-2022-000694 Quadra -vs- XL Insurance. In summary, the central discussion of the present case is referred as to whether Quadra Commodities S.A. had insurable interest with respect to the goods paid by them …

We at Insuralex and iNLIP are excited to announce an upcoming Insuralex event titled “Surety Bonds in Latin America – Industry Insights.” Surety Bonds are the backbone for the development and execution of infrastructure projects, both private and public, in the Latin American region, and serve as an important financial tool used in various industries, including construction, government contracts, and …

In today’s fast changing world, companies face risks that span borders and regulatory regimes, which is resulting in growing interest in multinational insurance, a fully end-to-end customized service for the cross-border exposures of organizations, including risk transfer and captive services. What are some of the current and future trends in this space?   1. Cross-border exposures have never been more …

New provisions on the requirements that foreign reinsurers and reinsurance intermediaries The Superintendence of Companies, Securities, and Insurance issued in February of 2023 new regulations regarding the requirements that foreign reinsurers and reinsurance intermediaries domiciled abroad, must meet in order to obtain or maintain their license to operate in Ecuador. This regulation was issued to strengthen the requirements for the …

Save the date! Insuralex´s London insurance market seminar and reception Abhijit Akerkar, Managing Director Swiss Re Corporate Solutions joins our team of international speakers who will take part in the 2023 Insuralex Global Seminar and Reception being held at the Gherkin on June 15th 2023: “Innovation and Sustainability in Insurance and Claims” Climate change, parametric covers, natural disasters, wars, cyber-attacks, pandemic, …

The latest iNLIP´s post presents the Sigma report: Natural catastrophes and inflation in 2022 The loss generating power of nature, alongside the socio-economic and geopolitical crises of recent years helped pushed property reinsurance rates to 20-year highs in the January 2023 renewals season. Global economic losses from natural disasters mounted to USD 275 billion in 2022. At USD 125 billion, …

Insuralex Peru (Osterling Abogados) is pleased to announce Mr. Omar Córdova as its new partner. This appointment increases the firm’s number of partners to 9 and strengthens its position as the leading Peruvian firm in advising the (re)insurance market. With more than 25 years of experience, Omar Córdova has focused his practice mainly on maritime law and (re)insurance law. Chambers …

Underinsurance is not exactly a new phenomenon in Latin America. Many countries have long suffered high inflation and the consequent risk of claims settlements being reduced due to underinsurance. So, why was there such a lively debate when 70 insurance executives came together for the Advanta/LEA Breakfast Forum during the 2023 Miami (Re)Insurance Week? It’s true that high inflation has …