Vehicles entering the country must have insurance

Auto insurance regulates the past informal practice of selling border insurance.

Santo Domingo.Victor J. Rojas, Executive Vice President of this entity, said that Seguros Panreservas is working on several projects that it hopes to increase the participation of the insurance sector in the country’s economy and increase the prestige of this brand.

Among the projects that they intend to implement this year are the application of insurance for cars entering across the border, for foreigners residing in the country, and standard insurance.

Rojas said during a meeting with economic editors and journalists that “the first initiative will be developed through an agreement with the General Directorate of Customs, so that motorized vehicles entering the country through different routes will be secured.”
Rojas, who was accompanied by a team of executives from Seguros Banreservas, explained that in the case of standard insurance, they would allow the state to insure infrastructure projects in the event of hurricanes or earthquakes.

He explained that these projects add to those that are already being evaluated and implemented, such as the state’s new infrastructure works in the fields of energy, water and the environment, which should have a long-term insurance policy through private public partnerships (APP), an international health plan with local coverage, and a liability policy Environmental insurance for tourists.

Among the latter, it is mentioned that it works as a standard for Latin American countries. It has been used for the health assistance of more than 1,200 tourists since its inception.

On the other hand, he explained that the entity reflects a growth of 14% with advantages for the period of 1.4 billion Rials compared to the year 2019. The premiums written are more than R $ 10354 million.

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Plans and achievements

-1— Expansion
Rojas announced that in expansion plans they will open commercial offices in Punta Cana, Santiago and Santo Domigo in March.
—2— Groups
Collected premiums were over $ 12,195 million, an increase of 10.19%.

Myrtle Frost

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