The Insurance Superintendent highlighted that the Government is working to improve economic conditions and emphasized the need to strengthen controls for the development of the sector.
The Superintendent of Insurance of the Nation, Guillermo Plate, acknowledged that the current economic context generates several problems for the insurance industry, but assured that “in these ten months, this Government has done a lot to address the needs of the sector.”
Plate explained, within the framework of the Argentine Insurance Summit, which took place this Tuesday, October 8 at the Argentine Catholic University (UCA), that some of the problems that plague the sector are the lack of dollars, which affects the import of inputs, which There is a recession and that makes people take out less insurance and inflation reduces savings and investment in coverage, especially for People.
However, he said that “the current government is working to improve economic variables and combat inflation,” which is a key element to provide predictability and profitability to insurance. And he anticipated that they are evaluating tax benefits to boost the market.
The judiciary, a big problem
Likewise, he pointed out that judicialization is a central issue for the sector, but one that they have tried to combat. “We have set the judicial rate from the Central Bank (BCRA) as a measure in that sense,” he stated.
Thus, the official trusted that the economy will grow and will boost the insurance sector and highlighted the importance of “disseminating the great contribution that the sector makes to the economy and society.” He said that the industry is “a great partner of the economy” and that insurance cannot be the problem of payment or non-payment of a claim, but rather an economic engine.
“There is a superintendency with a supervisory vocation, as we have demonstrated,” stated Plate, in reference to the measures they have taken in recent times to control the solvency of the sector.
A transparent framework and more control, the promise
And he emphasized the need to “guarantee a clear, transparent and solid framework that allows rebuilding the country’s economy, generating confidence in investments.”
He said that “we must work to build a safer and more prosperous future for everyone” and that the idea is to provide a tool for the development of the economic engine through the development of insurance, not only at the local level, but also internationally. “It is important that insurance be installed as an instrument of global economic development,” highlighted Plate.
Source: Ambito
