According to the Executive Vice President of Insurance Reservations, red victors, that institution works to present to the dominican governmentor a proposal on parametric international insurance, instruments that serve to cover damage caused by natural catastrophes such as hurricanes and earthquakes.
“In the Dominican Republic The time has come for the contracting of this insurance program, which is a country insurance, to be evaluated in its budgetary exercise,” said the official.
He added that this means that the call for a catastrophe by hurricane either earthquakethese coverages are activated and allow the country to receive from the insurers that share this program, the sums of money necessary for the recovery of the economy.
He said that the damage caused by the hurricane fiona cost the insurance companies in the Dominican Republic close to 6,000 million, money that could have been contributed by hiring the parametric international insurance.
“It is a matter of national conscience, it is a matter that we are taking to the State, taking the president (Luis Abinader) this application. We are working on all this. We have already received the proposals from the international reinsurers and we are waiting to be able to present this solution to the Dominican State, which is a national solution”, indicated Rojas.
Modification of the law
The official spoke today at a lunch with economic editors, directors and journalists from various media outlets, where he also indicated that Law 146-02 on insurance needs modifications to comply with international requirements and standards in the insurance market. in the Dominican Republic.
“The law (146-02) today needs important changes and transformations in what technical and financialabove all, where the rules of the game can be carried out clearly and in accordance with the changes and transformations of international markets”, said Rojas.
The information was offered at the meeting held in the framework of the celebration of the 21st anniversary of Insurance Reservations. It was reported that the company obtained last year Profits that exceed 820 million pesos and paid claims to its policyholders in the order of 4,657 million pesos.
Rojas explained that, combining the last two years, the company’s profits exceed the 2,300 million pesos.
