Privatization of Compulsory Insurance in Costa Rica Delayed

An appeal lodged in February 2011, affects the rules for the opening of the market issued by the Superintendent of Insurance (Sugese).

Nacion.com outlines in an article, "also under question is article III of the Law Regulating the Insurance Market (8653 Act), which authorized such privatization.

"We are interested, but there are many details that must be clarified first," said Kevin Lucas, Adisa manager and representative of the Association of Private Insurance. "

Currently the market for compulsory car insurance (SOA in Spanish) and policies for Occupational Risks (RT in Spanish), are only being served by the state-owned INS.

Source: Nacion.com

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