the Globe News

CARACAS. – In Venezuela the serious economic situation, inflation and the crisis reduced the possibility of Venezuelans to take out insurance policies. Several companies in this niche have been forced to close their operations in the country due to the crisis, a situation that has been going on since before the pandemic.

María del Carmen Bouffard, executive president of the Venezuelan Chamber of Insurers in an interview with the program On time de Radio Union He stressed that one of the causes of this is the economic recession in the country.

“There is a significant portfolio loss in all types of insurance policies, whether car, health or property. The loss of purchasing power of citizens It has made them prioritize their most basic needs such as food and medicine. Not everyone has to pay for a policy of any kind, ”he said.

Insurers were also affected with costs that are increasing more and more to try to cover the crisis unleashed by the pandemic. Bouffard recalled that since the arrival of the pandemic in 2020 there is no commitment to protect the disease.

"To the extent that costs increase, even when the policies may be in foreign currency, it will be insufficient," he said.

He pointed out that the sector he represents is in permanent contact with the government and added that he has measures on the table so that companies can continue to provide support to their policyholders.

courtesy graphic

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