The new Superintendent of Insurance, Jazmín Bernal, highlighted that one of the priorities on the agenda is the legal reform of the insurance market, given that the current law dates back more than 30 years.
One of the main priorities on the agenda of the new head of the Insurance Superintendency (SIS), Jazmín Bernal, is the legal reform of the Paraguayan insurance market. This initiative became imperative because the current law dates back more than three decades and, in all this time, the sector experienced significant growth, making it necessary to adapt the regulations to current demands.
According to Bernal, the goal of the SIS is to complete this year with a renewed law for the insurance market, which is currently made up of 34 entities. This legal reform must incorporate risk-based principles, to which other entities in the financial system have already adapted, and now it is the turn of this important sector that has shown notable growth in recent times.
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The implementation of this new legislation has the primary objective of guaranteeing the solvency of insurance companies, thus providing greater protection and security to the users of these services.
Another priority and relevant issue on the new superintendent’s agenda is the approval of mandatory insurance against traffic accidents, also known as SOAT (Mandatory Traffic Accident Insurance). Bernal expressed his conviction that this insurance is extremely necessary, highlighting that Paraguay is one of the few countries in the world that does not have this mandatory coverage.
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In this sense, the head of the SIS expressed her support for a project that can provide these guarantees and cover the needs of citizens regarding traffic accidents. Likewise, she emphasized the importance of establishing fair prices for this insurance, with the aim that it fulfills its protection function without representing an excessive burden on users.
Both the legal reform of the insurance market and the implementation of the SOAT were indicated as central topics on the agenda of the Insurance Superintendency.
Source: ABC.
2024-03-13 00:21:43
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