Even if the insured losses from the Chile earthquake fall in the mid-range of current estimates of between US$ 2 billion and US$ 8 billion, it will outpace Hurricane Wilma as the most expensive insured event in Latin America’s history, according to a release by reinsurance broker Cooper Gay.

Earlier this year, a Chilean court found an insurance broker liable to an insurance beneficiary for failing to obtain the insurance coverage requested, which led to the insurer denying the beneficiary's claim for disability benefits.

On December 30th, 2017, Law No. 21,063 was published in the Official Gazette, creating an insurance for the accompaniment of children suffering from certain serious diseases and that modifies article 199...

By most measures, Chile is considered the third largest insurance market in Latin America. It is widely considered to have the most stable market and political environment in the region.

Although all of the Latin American jurisdictions had notable regulatory and market developments in 2008, Chile stands out as particularly significant given the size of the market involved.

The Chilean legislature was recently presented with a draft law designed to modernize the insurance and reinsurance provisions contained within Chile's Code of Commerce.