Doing Business in Latin America - an Underwriter s personal view Chartis 2012
Ease of Doing Business 2012 World Bank Ranking Economy 2012 Ranking Ease of Doing Business Singapore 1 Chile 39 Peru 41 Colombia 42 Mexico 53 Panama 61 Uruguay 90 Guatemala 97 Paraguay 102 Dominican Republic 108 Argentina 113 Brazil 126 Honduras 128 Ecuador 130 Bolivia 153 Venezuela 177 Chad 183
Latin America - A PERSONAL VIEW of Energy Onshore Property Insurance From 1979 to 2012 DISCLAIMER The Views expressed are SOLELY the Personal Opinions of Dorian Grey
This image cannot currently be displayed. Latin America in 1979 -Energy Insurance Insurance and / or Reinsurance monopolies in most countries Energy infrastructure generally State-Owned and operated, including Oil Refineries, Gas Processing, Petrochemicals Marine Terminals, Ports Water, Sewerage and Waste Management Dams, Power Plants Electricity Transmission & Distribution Grid Pipelines (Water, Gas, Oil)
This image cannot currently be displayed. Latin America in 2012 -Energy Insurance Insurance and Reinsurance completely or largely privatized throughout Latin America Energy infrastructure is generally privately owned and operated in all countries (with a few exceptions). Oil Refineries, Gas Processing, Petrochemicals Marine Terminals, Ports Water, Sewerage and Waste Management Dams, Power Plants Electricity Transmission & Distribution Grid Pipelines (Water, Gas, Oil)
Ease of Doing Business 2012 Insurance Index* *The Opinions expressed expressed in this Table are SOLELY in this Dorian Table Grey s are PERSONAL SOLELY Views Dorian G Regulations (Policy Forms, Premium Reserves, etc.) Legal Environment / Civil Law compared to Common Law Effect of underlying laws and regulations on Policy wordings Law & Jurisdiction / Arbitration Local Market Capacity & Practice Complexity & Transparency Access for Foreign Insurance & Reinsurance Companies Remittance of Reinsurance Premiums Personal Security (e.g., for Loss Control Surveys) Logistics
Ease of Doing Business 2012 Insurance Index* *The Opinions expressed in this Table are SOLELY Dorian Grey s PERSONAL Views Country Ease of Doing Business : A Personal Index 1= Easy 10 = Complex Chile 2 Peru 3 Colombia 4 Panama 2 Uruguay 5 Guatemala 7 Paraguay 8 Dominican Republic 3 Argentina 7 Brazil 4 Honduras 6 Ecuador 8 Bolivia 7 Venezuela 7 Mexico 6
Latin America 1979 the Insurance Industry A time of Tariff Rates and regulated Policy Forms Minimal transfer of insurance know-how Minimal Loss Control Survey / Engineering work Low Regional & Local capacity / expertise A time before Personal Computers (& word-processing) The Internet and email Mobile phones
Latin America 2012 the Insurance Industry No Premium tariffs Generally unregulated policy wordings Knowledgable Insurance and Reinsurance buyers Major emphasis on Loss Control Engineering A high degree of knowledge transfer Risk Management well developed Instant Communications Large Regional and Local Capacity & Expertise
The Insured Local Companies Professional Risk Managers Local programs Multinational programs USA exposures Foreign Multinational Companies Local Programs Multinational programs 10
thank you Chartis 2012 Chartis is a world leading property-casualty and general insurance organization serving more than 40 million clients in over 160 countries and jurisdictions. With a 90-year history, one of the industry most extensive ranges of products and services, deep claims expertise and excellent financial strength, Chartis enables its commercial and personal insurance clients alike to manage virtually any risk with confidence. Chartis is the marketing name for the worldwide property-casualty and general insurance operations of Chartis Inc. For additional information, please visit our website at www.chartisinsurance.com.