A marriage of transparency and better risk management

Lack of transparency results in distrust and a sense of insecurity. Improper risk management leaves insureds vulnerable and reduces reliability in the insurance industry. It is hoped that Solvency II-type regulation will tackle this in Latin American countries such as Mexico and Brazil, as is the intention in Europe. In Chile, it has been proved to be the right direction to take in terms of solvency requirements for the insurance industry.