Ninth Insurance Company Opens in Costa Rica
|By Adam Williams
Tico Times Staff | [email protected]
Good news to all vehicle owners!!
|The Quálitas Insurance Company, a Mexico-based auto insurer, has been approved to compete in the Costa Rican insurance market. Quálitas, which insures an estimated 20 percent of Mexico’s drivers, is the ninth company to be approved by the Insurance Superintendency (SUGESE) to operate in Costa Rica. The country’s insurance market was opened to competition when the Central American Free-Trade Agreement with the U.S. (CAFTA) came into effect on Jan. 1, 2009. Prior to CAFTA, the National Insurance Institute (INS) had been the country’s sole insurance provider since its creation in 1924.
According to a press release by SUGESE, Quálitas has been approved conditionally. Quálitas has four months to meet additional requisites set by SUGESE before it can sell policies in Costa Rica.
Quálitas, which has provided auto insurance in Mexico since 1994, also sells policies in El Salvador.
Quálitas joins INS, Alico, Mapfre, Seguros del Magisterio, Assa, Pan American Life, Aseguradora del Istmo Adisa, and Seguros Bolivar as an approved insurance provider in Costa Rica.