Pain and suffering, and the transition phase of auto and liability dynamics in Mexico

Many analysts agree that the ongoing reforms such as in the energy sector, along with the US economic recovery, will support Mexico’s economic growth.

This positive trend will progressively change the needs for insurance, and today we already observe that Mexico’s modernization impacts the insurance industry.

Mexico is in the process of implementing improvements and amendments for the insurance sector such as the new Solvency II type legislation and compulsory insurance covers. The numerous regulatory changes have various impacts. Some changes are progressing over time, while other changes occur abruptly, some create situations that aren’t fully  consistent and will therefore trigger other changes at a later time. It’s obvious that these improvements are positive and are moving in the right direction. At the same time, the casualty insurance sector is very much influenced by the regulatory environment, and has clearly started a transition phase.

This article by Desk Head Casualty Mexico Olivier Chariatte explains how that transition phase impacts pain and suffering coverage in auto an liability insurance in Mexico.

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