The importance of liability insurance in Latin America is increasing as individual purchasing power and demand for goods and services such as energy, transportation and schools grows says Thais Kirschner, senior vice president of operations for Latin America at Liberty International Underwriters (LIU).
Is the need for liability insurance growing? In which countries?
Yes, liability insurance follows a natural evolution of economic development now seen throughout Latin America, especially in Chile, Colombia, Panama, and Peru. As individual purchasing power increases, so does asset accumulation and demand for goods and services. This leads to a demand for infrastructure: energy, transportation and schools. Better education improves productivity and better transportation improves competitiveness both further fuel the need for liability insurance.
What’s driving this growth – a greater awareness or government policies?
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FIDES, Liberty International Underwriters, Thais Kirschner, Latin America, Insurance