Rates would go up only for those who do not take insurance of relief

From this week the resolution of the SBS which forces financial institutions to offer personal credits without Disagree insurancewith the exception of mortgages. The measure seeks to reduce high intermediation commissions that generated the sale of these insurance, although some specialists question their effectiveness.

Entity also questions increased remuneration of state payroll.

Eduardo Morón, president of the Peruvian Association of Insurance Companies (APSEG), told Peru21 that the norm would not have to impact the demand for credits, since the Insurance of Disagame is a complementary product and not the main one. He said that demand could only be reduced in case of an increase in interest rates or if the economy faced any sway.

Along these lines, executives of the financial sector indicated that the SBS measure will be applied only to the new credits. They added that the rates could increase in loans without reservoir insurance, although the adjustment would not be significant.

Impact

Executives stressed that there is a high penetration in the sale of optional insurance, that is, low -cost coverage that includes protection against robberies, assists, accidents and life. They recalled that, for several years, the financial industry has worked to raise awareness of users about the importance of having these coverage.

A source said that, in some entities, more than 80% of credit contracts are signed with optional insurance, so the offer of loans without deducture coverage may not have a relevant impact on this client segment.

Another interviewee commented that the entities have information annually to how much the number of claims for death and total disability of the debtors arrives, which will serve as the basis to estimate how much more charge people who do not want to acquire the disgrade.