Insurance & Reinsurance in Argentina
Implied terms Can any terms by implied into re insurance contracts eg, a duty of good faith? Certain terms and conditions are considered abusive, and therefore unenforceable against consumers — for example: Law 26, created COPREC, a new agency that will deal exclusively with consumer claims under fast-track procedures and subject to new rules which provide for: Retail price of gasoline in the United States Dividends paid to nonresident insurers are not subject to tax if the dividends are paid out of profits taxed at the corporate level. In life insurance the liquidator must transfer the existing policies through a bidding process.
The Latin American Insurance Market - MAPFRE
Insurers must provide policyholders with policies that are signed, clearly written and easy to read, and which contain the following:. They can determine the terms and conditions of insurance in their policies, including fees and commissions. Explore our content Close. However, despite this apparent relaxation, the right of first refusal remains unchanged and means that, in practical terms, Brazilian insurers must always offer 40 per cent of any risk to local reinsurers. Main export partners in Registered in England and Wales. Transfer pricing is generally within OECD principles.
The absence of any clear principles applicable to the determination of reinsurance contracts creates difficulties for reinsurers, particularly where fronting arrangements are in place. Export of goods from Argentina Argentina: In October , Hurricane Matthew reached wind speeds of mph as it made its presence felt from Colombia to the United States. In fact, the regulator, the Superintendency of Banks, Insurers and Private Pension Funds, specifies a minimum percentage of catastrophe risk that must be reinsured outside Peru. Arbitration clauses are admitted in reinsurance agreements, provided that the seat of the arbitration is in Argentina. Colombia enjoys strong economic growth and enormous potential for financial stability over the next three to five years.