He Dominican state You must establish one Insurance Purchase Policy for protect yourself from possible increases of the cost of raw materials in international markets and must ensure their infrastructure against risks of destruction or damage caused by natural phenomena.
Franklin GlassExecutive President of the Dominican Insurers Chamber and reinsurers (Cadoar), revealed that more than 90 % of public buildings They do not have a policy that allows the State to transfer the risks that a cyclone or tremor could cause a company of Insurance.
Glass pointed out that state works as bridges, tunnels, high, schools and hospitals They lack insurance. However, he said that from the government there is a change in mentality of protection of Public Heritage.
“The government has opened a conversation door with us and in meetings that we are holding we are carrying (as a proposal) take care of the assets that the Dominicans have built with our taxes, with indebtedness, so that at the time a Natural phenomenon to have solutions“, revealed.
As a reference, the Executive cited the Haitian casea country that said has not been able to recover much of its government infrastructure after the 2010 earthquake.
Meanwhile, Wilfredo Baquero, president of the Board of Directors of Cadoarstated that in a country with High climate exposure as the Dominican Republic the Insurance sector must be consolidated as a Strategic partner of the State and the productive apparatus.
“He sure He must be a key actor for the construction of resilience nationwide. We have already seen it in the region with the parametric insurancemicroseguro programs and public-private alliances to protect critical sectors, “he suggested.
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Baquero cited data from the World Bank in which he warns that, without adaptation measures, the country could lose up to 17 % of its potential gross domestic product by 2050 and up to 20 % of government revenues, affecting public and social investment, but that with prevention, resilient infrastructure and greater access to inclusive insurance, those impacts could be reduced by up to 60 %.
Both Glass and Baquero spoke at the opening of the Cadoar Congress 2025which is title “the Insurance client in 2025”
Protection policy
Within the framework of the aforementioned event, the Economist Raúl OvalleSocio-director of the Analytica firm, who was in charge of the main presentation, suggested the need for the State to Buy insurance policies to protect themselves from increasing raw materials.
Ovalles considered that “authorities should be taken very seriously introducing a State policy of Insurance acquisition against raw material increases (oil and gas). It is very important that the country takes this seriously, that it is protected. ”
