18 March 2020 – INS Board of Directors approve 4-month grace period of commercial insurance

Type of Intervention: Specific Action
Sectors Involved: Finance/Economy, Private Sector
Intervention Categories: Legal and policy; Regulatory change; Finance policy and financial aid; Stimulus packages and financial support
Level of Jurisdiction: National
Lead People/Agency: The Costa Rican National Insurance Institute (INS)

Overview: The National Insurance Institute (INS) extended, for up to four months, commercial insurance. This is a period during which, without paying the insurance, the companies will maintain their coverage, being able to make the payment at a later date. Right now more than 50 thousand companies have their insurance with the National Insurance Institute.
Full details here: https://www.presidencia.go.cr/comunicados/2020/03/junta-directiva-del-ins-aprueba-periodo-de-gracia-para-seguros-comerciales/

Type of Justification: No justification given