The law aimed to supply the Fire Department of Panama with equipment was passed yesterday by President Ricardo Martinelli. (more)

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Insurance companies operating in Panama projected another increase in costs on fire insurance premiums and allied lines, as well as technical risks (engineering insurance). (more)

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Panama's Insurance Superintendency has announced the creation of a new obligatory register for all foreign reinsurers and reinsurance brokers wishing to do business in the country.

Panama's new Insurance Law, which was passed in April 2012, provided for the creation of a foreign reinsurers' register but the Insurance Superintendency did not announce the requirements for joining the register until publication of a new regulation on December 28, 2012. Foreign reinsurers and reinsurance brokers now have until April 3, 2013, to become registered, a date which marks one year since the Insurance Law 2012 came into force. Local cedants will be prohibited from signing contracts with reinsurers and/or from using reinsurance brokers that are not on the register after that date.

The requirements for foreign reinsurers include providing an international risk rating report, a letter from the home regulator, copies of recent audited accounts and a check payable to the Insurance Superintendency together with a formal written application. The regulation also requires appointment of a resident representative domiciled in Panama. The requirements for foreign reinsurance brokers include a letter from the home regulator and a copy of the broker's E&O policy evidencing cover for operations in Panama.

By: Kevin Bradley - Dying in Panama can be a complicated process and few Expats are prepared for the unique complications that will arise. I have been called upon to help families and loved ones collect life insurance proceeds and attend to the final expenses after the death of an Expat in our country.

The one factor that helps the process move with the least amount of effort is having sufficient cash available to cover immediate expenses. Most local insurance companies are prepared to advance a portion of the death benefit to help cover the cost of funeral, legal and repatriation of remains. Some companies will even pay "living benefits" after a fatal medical diagnosis, to help offset expenses of the dying.

At the very least, Expats should consider a minimum $25,000 term policy with a local Panama company to provide their family/beneficiaries access to ready cash.

So, how much life insurance do you need? Well, the answer isn’t really how much life insurance you need… it’s how much investment capital your family will need at the time of your death. Their need for capital — on a gross basis — is really a function of two variables:

1. How much will be needed at death to meet immediate obligations?

2. If you brought your family with you to live in Panama, how much future income is needed to sustain the household?

http://www.lifehappens.org/life-insurance-needs-calculator/

Carmen and I are standing by to help with quotes. 322-1605 or 6674-1063, or visit panamakevin.com

By DON WINNER for Panama-Guide.com - Recently my good friend Kevin Bradley, the best insurance man in Panama and on the planet, sent me a link to this article they've published on his website entitled Car towed away by Panama A.T.T.T.?. Carmen, who works with Kevin, recently assisted one of their customers who initially thought their car had been stolen, but they came to find out it had simply been towed away by Panama's Ground Transit and Transportation Authority (ATTT) because the owner had parked in a yellow curb, no parking zone. This article gives the full details on who to call and what to do if this happens to you. Panama's Ministry of Public Works (MOP) is starting work on all kinds of major infrastructure projects in Panama City, and they have been coming out on television frequently to talk about the projects and how they know the traffic is going to be screwed up for awhile until the projects are complete. The government has even gone so far as to change the law regarding minor vehicle accidents, and now drivers are required to move their vehicles from the lanes of travel so as to not block traffic. There's also discussion about changing the work schedules for government and private employees to ease rush hour traffic. And now, apparently the ATTT is going to start towing vehicles that are illegally parked. Anyway, take a look at this article to get the details about how to find your car if it turns up missing one of these days. And don't forget, my good buddy Kevin Bradley is still the best insurance dude in town. Be safe out there, folks...

Copyright 2011 by Don Winner for Panama-Guide.com. Go ahead and use whatever you like as long as you credit the source. Salud.

The general director of the Ground Transit and Transportation Authority (ATTT), Jorge Ricardo Fabrega, said next week he would sign an agreement with the Panamanian Association of Insurance that will allow the ATTT have information on people who have auto insurance. The information will be entered into the electronic database system which can be accessed using the handheld "Pele Police" devices, whose database is updated daily, and will be used by the authorities to certify the validity of the insurance carried by the vehicle and to which company it belongs. With the entry into force of the decree governing minor accidents, people should remove vehicles out of the roadway and call the insurance company, although in extreme cases they should call the traffic police. The new law does not require drivers who have been involved in a minor traffic accident to come to an agreement with regards to fault or responsibility. Fabrega said in the month since the new law governing minor traffic accidents has been in effect, the insurance companies have reported that a large number of minor collisions have been resolved through agreements between the parties involved, and the traffic courts are handling smaller numbers of cases. The "Single Definitive Form For Minor Traffic Accidents" is based on Law No. 21 of May 28, 2010, and its regulations dictate the required actions to be taken for minor traffic accidents on roads in the country. The signatories will have to translate data to the document that will be considered as a verifiable affidavit and the information provided and its attachments is true to the events, assuming legal responsibility for any misrepresentation or omission. Anyone who provides misleading information or who attempts to conceal the real situation by providing false information about the events or acts will be sanctioned under Article 366 of the Criminal Code. (Panama America)

Editor's Comment: So now, when the cops pull you over, they will be able to quickly and easily check the "pele police" system to see if your auto insurance is valid and up to date. Anyone caught without insurance is facing a hefty fine.

Surfersvillage Global Surf News - Surf Tourism consultants Projeckts Ltd, report another good reason for visiting and surfing in Panama, free medical insurnace for tourists. Whilst there are some coverage restrictions regarding 'incidents caused extreme sports', it is a very attractive incentive, not found in many surf destinations. Panama has recently begun a new program that puts the focus on health. This innovative Central American country has come to realize that the reason people travel is for Health. Therefore, it has placed top priority on the health of tourists. All tourists as well as Panamanians living abroad will receive medical insurance with top level coverage in case of emergency during the first thirty days of their stay. This initiative, which is only offered by very few countries in the region, became official on January 17th for all visitors arriving in Panama through Tocumen International Airport.

The process for this health insurance is very simple. Once the person arrives at the airport in Panama City, they must go to the tourist information centers located in the area of immigration and they will be handed a brochure with all the necessary information, along with a user card. If the person requires medical attention, they will only need to present this card along with its passport at any health center. The insurance policy will cover accidental death (up to $20,000 dollars), hospitalization and medical expenses for injuries due to accidents or in case of contracting a disease in Panama (up to $7,000 dollars), expenses for dental emergency (up to $ 2,000 dollars), administrative legal assistance by accident (up to $ 3,500), and lost or stolen documents, among others. The policy does not however cover incidents caused by negligence, those related to alcohol and drugs ", and such as those caused by extreme sports.

"Health insurance is an incentive for tourists visiting Panama as well as all other attractions of the country as a tourist destination. Those who take advantage of the health services in the country will see that Panama is an ideal place for medical tourism with highly trained physicians and hospitals , said Minister of Tourism of Panama and Director of the ATP, Solomon Shamah. The insurance company, Assicurazioni Generali, will be responsible for issuing the insurance policy, and their contract is valid with the country for the next two years.

Published by Ozgur Tore - In 2011, Panama begins a new program; reinforcing tourists are a top priority for the country. All tourists as well as Panamanians living abroad will receive medical insurance with top level coverage in case of emergency during the first thirty days of their stay. This initiative, which is only offered by very few countries in the region, become official on January 17th for all visitors arriving in Panama through Tocumen International Airport. The process for this health insurance is very simple. Once the person arrives at the airport in Panama City, they must go to the tourist information centers located in the area of immigration and they will be handed a brochure with all the necessary information, along with a user card. If the person requires medical attention, they will only need to present this card along with its passport at any health center. The insurance policy will cover accidental death (up to $20,000 dollars), hospitalization and medical expenses for injuries due to accidents or in case of contracting a disease in Panama (up to $7,000 dollars), expenses for dental emergency (up to $ 2,000 dollars), administrative legal assistance by accident (up to $ 3,500), and lost or stolen documents, among others. The policy does not however cover incidents caused by negligence, those related to alcohol and drugs ", such as those caused by extreme sports.

"Health insurance is an incentive for tourists visiting Panama as well as all other attractions of the country as a tourist destination. Those who take advantage of the health services in the country will see that Panama is an ideal place for medical tourism with highly trained physicians and hospitals , said Minister of Tourism of Panama and Director of the ATP, Solomon Shamah. The insurance company, Assicurazioni Generali, will be responsible for issuing the insurance policy, and their contract is valid with the country for the next two years.

About Panama - Panama is an authentic unexplored destination with an exuberant natural habitat and an enchanting history; a gem hidden between two seas. Panama’s prime location, in the center of the continent, allows it to be the main air hub in Latin America. The country offers stunning landscapes and diverse ecosystems in forests, beaches, mountains and the Canal Zone, as well as an exquisite combination of rich ethnic and colonial past favorable to the prosperity and benefits of modernity. The Panama Canal, or eighth wonder of the world, is a symbol of an entrepreneur country that besides being a logistics center for excellence, it is the most important financial center of the Americas and home to major multinational corporations and free trade zone. UNESCO has declared the Old Quarter of the capital, Panama City, a World Heritage Site. Panama has natural attractions, services, hotels and a massive Convention Center to receive the adventure and leisure traveler, as well as the business visitors. (ftnnews.com)

Panasurance is an International Health Insurance broker specializing in Worldwide Medical and Health Insurance Protection for Expatriates living in Latin America. We are conveniently based in Panama, the Hub of the Americas, “Center of the World, Heart of the Universe!”. We offer free quotations, information and advice on the best International Health Insurance alternatives available in Latin America. Via the Internet, phone and Skype we can communicate easily with our clients worldwide, and service them anywhere in Latin America. We are now offering a group health insurance plan through BUPA Latin America to expatriates living throughout the region. If you've never heard of BUPA, you might be interested in the following video about the company;

For More Information: Please feel free to contact us via email to info@panasurance.com, and please visit our website for additional information and details on how you can obtain international health insurance through Panasurance.com.

The British American insurance company (BA) not only pulled the bonds that were supposed to backup the money being paid by Panamanians from the country, but also a part of their deposits and other investments as well. The report from the auditor appointed by the Panamanian Superintendent of Insurance in October 2009, revealed that among the funds they have not been able to recover is a deposit of $715,820 dollars, now in the hands of a company called Caribbean Money Market, a subsidiary of BA Trinidad and Tobago. In addition, British American transferred investments in company shares and other bonds worth $1.9 million dollars to Wachovia Bank, an entity that was acquired by Wells Fargo. However, these resources are not available because the authorized signatures in order to transfer the fund back to Panama are those of the British American directors in Trinidad and Tobago. To these missing amounts are added the $7.5 million dollars in bonds from the Government of Panama that the insurance company transferred in 2007 to their parent and that they pledged to third parties, even though some of the reserves were committed in Panama. The auditing company Ciro Cano made it clear in its report, that it was a misleading figure on the part of the insurance company that for three years, included these amounts in its financial statements as assets available to the Panamanian operation. (La Prensa)

Several proposals have been made to find ways to keep the British American insurance company solvent in Panama. The Briceño group from Venezuela, is one of the companies interested in investing, however Panamanian Superintendent of Insurance doubts their capacity. Gustavo Briceño, the representative of the Venezuelan group, said they plan to invest $7 million dollars over the course of the next three years. "New British American" would be the name of the insurance company, of Briceño takes over. During a meeting with partners and clients of British American, the Superintendent of Insurance Luis Alberto Della Tonga was met with many "boos" from the public, who said he is giving false hope to the clients and policy holders. (Telemetro)

Editor's Comment: What a mess. The government is trying to figure out what to do, the insurance companies are already picking up and providing insurance to the former customers of British American - those who are relatively young and healthy who easily qualify. The older and sicker people are more of a problem. This Briceño group is the only one who has offered to take over the entire portfolio, lock, stock, and barrel.

A relative of the President of the Republic is involved in a company what might take over part of the insurance policies of the failed British American company in Panama. Although Panama's Minister of Commerce Roberto Henriquez said he didn't know, among the community of insurance brokers it is an "open secret" that the President's nephew, Juan Carlos Martinelli, is the General Manager of the World Wide Medical insurance company. A few days ago, British American workers and insurance brokers warned the failure of the company was requested in order to favor other insurance companies, however the Superintendent of Insurance, Luis Della Togna, denies this. He said "there is none of that." According to the President of the Insurance Brokers Association, Priscilla McLeod, the only fault should be placed on the Superintendent of Insurance from the previous administration (of Martin Torrijos) and she said there is nothing bad that there is a member of the Martinelli family involved in the insurance industry. All those involved say the company cannot be sold because the owners of British American are not willing to sign. For now, some insurers picking up former British American customers, but only healthy ones. (TVN Noticias)

Editor's Comment: There are (or were) several other insurance companies in Panama exploring the possibility of assuming all of British American's customers in one fell swoop. The first company to come forward with such and offer was World Wide Medical. I imagine there are all kinds of back room negotiations taking place. As pointed out in this article, the relatively young and healthy British American customers won't have any problem getting picked up by a new insurance company. The only ones who are absolutely screwed are the older and sick customers who now find themselves without insurance, and basically uninsurable due to preexisting conditions. The fact that (apparently) one of Martinelli's nephews is in the insurance business is most likely insignificant. I have not heard one word from the people behind British American of protest, saying they are getting screwed over, or anything like that. Rather, they have been silent, and it seems more like they were caught with their hand in the cookie jar with the transfer of the $10 million dollar bond out of the country. Again, let's see how this all spins out over time.

The customers affiliated with the British American insurance company for the moment won't be able to claim the benefits offered by their policies. And the situation will remain the same until it is decided what court will hear the case. The court will also have to decide how to administer the approximately $4 million dollars that remains as liquidity of the company, and the value of some of the company's assets. Or at least, those were the answers proved by the Superintendent of Insurance and Reinsurance, Luis Della Togna, who spoke to the press yesterday. He said he didn't know the total number of clients that are affiliated with the insurer, because another of the irregularities they discovered when they took control of the company on 5 October 2009 is that all of the insurance polities are registered in Trinidad and Tobago. (Panama America)

"They talk about 10,000 affected, because that is the number they sent abroad," said Della Tonga. The simple math of the authorities estimates it would take about $14 million dollars to make all of the affected customers whole, with what the are calling an administrative failure. In addition, both Della Togna and the Vice Minister of Commerce and Industry, Ricardo Quijano both emphasized that the decision of bankruptcy was the best alternative. Both believe that if they had not taken this step, eventually British American Insurance, based in Trinidad and Tobago, would have been able to transfer all of the funds that actually remain in Panama, in the exact same way that they did with the bonds. "We tried at all times to safeguard the interests of the customers," said Quijano.

It should be noted that government officials have placed their confidence in the Public Ministry for them to determine in the first instance who are the persons who are actually responsible for having approved the shady and irresponsible management of the company, because since 2007 the transferred bonds were not property supervised by the previous administration. But the most important action will be to seek to recover the bonds that are still in the name of Panama, who incidentally, have already been identified by authorities and which can almost completely cover the outstanding commitments with customers who have policies taken out in the country.

Editor's Comment: A couple of things jump out at me here. First of all, did you catch the "warning shot" fired towards the PRD - when they said this problem with British American should have been resolved by the previous administration of Martin Torrijos? And now it will fall to the Public Ministry to determine who is "actually responsible" for this fiasco? Duck! The other thing is that the numbers add up - almost too nicely. It would take $14 million to make everyone whole, and there's $4 million in assets plus $10 million in bonds that have been transferred (illegally?) to Trinidad and Tobago. So, they get all of that back, liquidate everything, hand out the money, and British American goes away in Panama. Neat. The only problem is that now all of this is going to take fifteen years in the courts, and by the time it's all done all of the money will have gone to lawyers. I wonder - is there a political angle to all of this? Did the guys behind British American in Panama make large campaign donations to Balbina Herrera or something? Just wondering out loud...

By DON WINNER for Panama-Guide.com - One of the biggest news stories dominating the Panamanian press this morning is the breaking news that the British American insurance company is apparently going out of business, fast. Yesterday camera crews went to their offices and spoke with customers and clients - there are some 10,000 people who have (had) insurance with British American in the Republic of Panama. All of those people basically have the same questions - what's going to happen to them now? There are people who are scheduled for open heart surgery for example, who now don't know if they are covered or not. The television crews even interviewed the office employees who don't know if they have a job, if they are going to get paid, or what's going to happen to them. In short, nobody has a really clear view of what's going on and how it's all going to play out right now. But one thing is very clear - British American is basically toast.

Going Cheap on Insurance Coverage: It makes perfect sense for people to seek out lower prices when shopping for insurance coverage. And in all fairness, 10,000 people were caught flat footed by the collapse of British American because nobody saw it coming. One day they were a good and economical option, and the next they are gone - poof - just like that. However the phrase "you get what you pay for" is very true when it comes to something as important as insurance coverage. For example I heard from several people who are (were) perfectly happy with the "plan" offered by the Santa Fe hospital. I say "plan" because, to be perfectly clear, what they offer is not health insurance and they are not regulated by the Panamanian Superintendent of Insurance. And what happened to some people is that they learned later - when they really needed it - they were arbitrarily "dropped" from the "plan" because what they needed was too expensive or not covered. And since this "plan" is not controlled or regulated as insurance, that means they can basically do practically whatever they want. The end result is that you might save some money in the short haul, only to find yourself getting screwed in the long haul.

Ten Years Later: I heard from someone who has had coverage with British American for ten years. Up until yesterday they were happy customers without a care in the world. Now, they will have to go out and find some other kind of health insurance coverage, from another company or provider. Hopefully they have not developed any kind of health problem or "pre existing condition" over the last ten years that will now make it harder or more expensive for them to obtain health coverage. Ten years is a long time and a lot of things can happen as we age. I don't know exactly why British American went belly up in Panama but it might have been in some way related to the low rates they reportedly charged. At what point does the cart "tip over" - where they have more money going out and liabilities than they have coming in. I also understand there's an issue with $10 million dollars in bonds that were transferred from Panama to Trinidad - Tobago, that's at the root of the problems the government of Panama has with British American. That sounds to me like the people behind this company are taking the last of the money with them as they split, abandoning their 10,000 former customers here. Again, to be perfectly clear and absolutely honest, I still don't have all of the facts and details, and I'm sure they will be emerging over time. But right now, that's how I understand the situation. So, you pay into an insurance plan for ten years and now, they take the money, run away, and flip you the bird over their shoulder on the way out. That's what you get when you go "cheap" on insurance coverage, in Panama or anywhere else.

Be A Miracle Worker: Many of you already know that Kevin Bradley is both an insurance salesman and one of my best friends here in Panama. Practically everything I know about the insurance industry I learned from him. Kevin has to be very careful about what he says because as a broker he is in the position of "middle man" with the customers on one hand, and the insurance companies on the other. However, he tells me stories of people who come to Panama with a whole string of pre-existing medical conditions, like a 65 year old man with a history of heart attacks, diabetes, who has been smoking for more than 40 years. The simple answer is - in most cases that person is simply "not insurable" practically at any price. The insurance companies want to see doctor's reports, and they will exclude all or most of the preexisting conditions for a number of years. Of course, the customer wants Kevin to come up with a mystical and magical comprehensive health insurance package that covers everything, instantly, for free or very cheap. It's simply not out there. So either "you get what you pay for" or "they won't sell you coverage, practically at any price."

Stable, Respected, Rock Solid: I suspect that now after the collapse of British American things like "stability" and "reliability" will factor more into people's decisions on what health insurance they will buy - much more than they did in the past. The basic premise behind insurance coverage is that you pay into the group pool when you are healthy and you don't need it, so that later when you really do need it your medical bills are paid for by those who are healthy. It does you absolutely no good whatsoever to pay into a plan for many years, only to have that plan evaporate from under your feet as you get closer to the time when you might really need it. There are any number of insurance options and companies available in Panama - practically everyone has some kind of insurance coverage. And of course I would recommend that you contact my good friend Kevin Bradley because he can steer you towards the kind of coverage that best fits your situation. Shameless promotion for a good friend? You betcha. I've seen him respond to traffic accidents in the middle of a heavy downpour, go to the hospital to check in on a client who's about to have an operation, and basically "be there" for his clients and customers. He has developed a stellar reputation over 40 years in the business- and you'll never catch me ever saying a bad word about him. There are few people in this country that have earned my respect and unquestioning allegiance - as a result of their actions when it matters most - and as a matter of fact I can count them on one hand. Kevin is at the top of that list. So if you need insurance for any reason I have a very short list of answers and it always sounds like "call Kevin Bradley."

I'm Sorry You Got Screwed: If you find yourself without health insurance coverage this morning thanks to the British American meltdown, well then I'm sorry to hear about that. I hope you can find an effective solution to your insurance problem. My advice - take care of it sooner rather than later. Also, call Kevin. I don't know how many of those 10,000 people who lost their coverage with British American are members of the English speaking expatriate community, but I know there are some.

Copyright 2010 by Don Winner for Panama-Guide.com. Go ahead and use whatever you like as long as you credit the source. Salud.

The British American Insurance Company can not be saved, after a 180-day intervention by the Superintendence of Insurance and Reinsurance of Panama, according to the Minister of Trade and Industry Roberto Henriquez, who spoke to Telemetro Reporta. Henríquez said that in Trinidad and Tobago, this company has been put on trial for fraudulent bankruptcy. They also filed a complaint with the Public Ministry that could lead to the collapse of the British American Insurance Company based in Panama. The Superintendency of Insurance and Reinsurance Panama sued the British American Insurance firm for alleged irregularities in the handling of $10 million dollars. The complaint was lodged by the chairman of the regulator, Louis Della Togna against directors and shareholders of the company for alleged violations of the laws that govern and regulate the insurance sector of Panama. About 10,000 people in Panama, who have health, life, and annuity insurance with the company, will be affected by the bankruptcy of the company, which has been operating in Panama since 1967. (La Estrella)

Editor's Comment: If you had insurance with British American in Panama, and if you just learned that you probably don't have any insurance coverage at all, this might be a good time to give my good friend Kevin Bradley a call, 6674-1063. He's working with and for Ducruet, one of the strongest and most stable Panamanian insurance companies in the country. Many people went with British American because they had lower premiums. Well, I guess you get what you pay for, eh? Live and learn.

The Cabinet Council approved an additional appropriation to the Tourism Authority of Panama (ATP) for an amount of up to $10.72 million dollars that will be used to provide insurance coverage for all tourists who enter the country. The insurance is valid during the time that tourists stay in the country. (La Critica)

Editor's Comment: I think this is health insurance coverage, and it's interesting to note that this was done after Mike and his wife Olga were attacked and shot on the way to Playa Blanca last year. Mike was shot five times and his wife was shot in the forehead, and both survived. They both required surgery which they paid for themselves. I imagine that this new insurance coverage would have paid for medical attention for a case such as this. Mike and Olga were initially treated at the Santo Tomas hospital but the conditions there were marginal so I intervened and helped to get them transferred to the Punta Pacifica hospital, where they had their surgery. The Director of the ATP made some promises to Mike at bedside that he later could not keep with regards to paying for medical treatment. I suspect this initiative might have arisen from the attack. If this insurance policy had been in place at the time, then the national insurance police covering tourists could have been used. Anyway, it's a good initiative.

Announcing the availability of a new major medical Group Policy for residents of condominiums in the Republic of Panama. Specifically, members of the English speaking Expatriate community living in Panama who reside in a condominium can apply for and qualify for this new type of group coverage. This article announces the availability of a brand-new Major Medical Group Policy for residents of condominiums in the Republic of Panama. And yes, expats living in condominiums can apply for coverage.

• The First Ingredient of this plan is multi-million dollar protection - "it's like having $2 million dollars in your checkbook to pay for unexpected hospital bills or catastrophic illnesses.”
  
  
• The Second Ingredient of this plan is preferred access to a world class hospital, Punta Pacifica.
  
  
• The Third Ingredient of this plan is the support from a local company, with offices on Calle 50 in the Global Bank tower building, with personnel ready to service claims and assist you when needed.
  
  
• The Fourth ingredient - this is a Group Plan which allows you to get the benefits of lower premiums (20% discount).
  
  
• The Fifth Ingredient is international coverage and preferred access to these top Hospitals in the US: M.D. Anderson Cancer Center (TX), The Cleveland Clinic (OH), Beth Israel (NY), Yale New Haven Hospital (CT), St. Luke's Episcopal Hospital (TX), Hospital for Special Surgery (NY), Miami Children Hospital (FL), Mount Sinai Medical Center (FL), University of Miami Hospital (FL).
  
  
• The Sixth Ingredient is AIR AMBULANCE service and coverage to the US ($25,000) in the case of life threatening cases that doctors in Panama decide they cannot treat here.
  
  
• The Seventh ingredient: LIFETIME COVERAGE. Once insured, to be able to renew until age 100.
  
  
• Eighth ingredient: TRAVEL ASSISTANCE with Europ Assistance, a Company with presence in 208 countries, 4,500 employees, and more than 150 million customers.
  
  
• Ninth ingredient: $10,000 LIFE INSURANCE free of charge.
  
  
• Tenth ingredient: OPEN TO ALL RESIDENTS of the Condominium under 70 years of age.

Latinamerica Title Co. is an exclusive representative of Chicago Title in Panama. The company offers customers the most comprehensive and accurate title insurance and escrow related services in the region, enhancing real estate transactions with a group of services that minimize the risk of investing in a foreign country, as a central point of contact providing our clients security in the process of purchasing land in our beautiful Panama. About our Underwriter: Chicago Title dates back more than 160 years through the succession of several firms and corporations. Throughout, Chicago Title has grown in stature and with a solid reputation for integrity and standing the test of time. In 1920 the scope of the Company business extended beyond Illinois, where it started in 1847. Since then it has continued developing and expanding its extensive organization. Most importantly, Latinamerica Title Co. is the only company authorized by the Superintendent of Insurance to offer Title Insurance in the Republic of Panama. If you purchase title insurance from anyone else, it's literally not worth the paper it's written on... (more)

By DON WINNER for Panama-Guide.com - Received this morning via email: "THIS IS NOT AN OFFICIAL AMSOC EVENT BUT AN ITEM OF INTEREST: MONDAY AUG 17th 6-7:30pm RINO'S RISTORANTE AV FEDER. BOYD AmSoc member Mark Scheinbaum, B.A., M.A. veteran editor, publisher, and financial planner, and Pres of ARBOLINDO DE PANAMA, S.A. has invited ALBERT ROJAS, FLMI, past V.P. and General Manager of ALICO in Panama, with more than 30 years of insurance design and management experience...to brief interested Americans in Panama on some important Medicare related issues. There is NO SOLICITATION...after a brief update on the overal proposed Health Care changes in the USA, current trends, problems, and difficulties and logistics with Medicare, YOUR IMPUT will be sought. There has been a suggestion that those with expertise both in Panama and in the insurance industry offer an affordable supplemental program covering Americans only when they are outside of the United States, with a special emphasis on coverage in Panama. In most cases rates would be affordable and pre-existing conditions would not necessarily prevent us from getting coverage. THESE ARE DIFFICULT ECONOMIC TIMES FOR MANY PEOPLE...but at least two large underwriters are interested in this type of program, but--we need honest opinions, suggestions, and in put from our fellow USA citizens to determine if their are "indications of interest" to launch this or not. Guests are welcome. Seating is somewhat limited. Light refreshments will be served. Again, no cost or obligation. If you would like to reserve a spot or have questions email Mark at Mbshine@aol.com his cell his 6 717 6098 and his office in Diablo Heights is 315 1815. Please assist us by forwarding this note to friends, whether or not you can personally attend. Thanks Mark"

By DON WINNER for Panama-Guide.com - Have you got time for a shameless plug? My good friend Kevin Bradley is the best insurance agent in Panama. He's been selling insurance in Panama for many years. Those who read my website regularly know there are very few people who I will personally endorse and Kevin Bradley is the exception to that rule. If you're going to be living here either full or part time, Kevin can give you some advice and tell you what you need to know about insurance requirements for health, life, home, and car insurance, or whatever other kind of insurance you might need. Others have come and gone but they are virtual flashes in the pan compared to Kevin. What's it been, bud, like 30 years now? What matters is that he will tell you what you need to know, he has a highly motivated and capable bilingual staff who can answer your questions (and the phone), and when something bad happens the first person you'll probably see standing next to your hospital bed will be Kevin Bradley. So please check out his website and give him a call - he will take good care of you.

Copyright 2009 by Don Winner for Panama-Guide.com. Go ahead and use whatever you like as long as you credit the source. Salud.

By DON WINNER for Panama-Guide.com - New rules came into effect on 1 February 2009 with regards to the TRICARE health care benefit covering millions of military retirees and their families around the world. The Tricare Management Authority (TMA), in responding to literally years of blatant fraud and abuse of the system by unscrupulous hospital insiders and administrative staff, took the unusual step of greatly restricting and limiting what they will pay to hospitals and doctors in Panama for TRICARE claims. In response, two hospitals, the Hospital Nacional and Hospital San Fernando, will no longer accept TRICARE patients. Fortunately for TRICARE patients, the Punta Pacifica Hospital, now under the administration of Johns Hopkins, will still accept TRICARE patients under the new rules. The details are being worked out. (more)

By Maria Alejandra Moreno / Business News Americas - Mexico's largest automobile insurance company Quálitas, which launched operations in El Salvador earlier this month, is analyzing an expansion to Costa Rica and Panama as part of its internationalization strategy, top executives from Quálitas told BNamericas. "Both markets are on our radar," said company CFO Wilfrido Castillo, who does not rule out entering other Central American countries. The Panamanian and Costa Rican insurance markets are Central America's two largest. Panama's insurance industry reported US$607mn in written premiums in 2007, data from the local regulator show. In Costa Rica, state-run monopoly Instituto Nacional de Seguros recorded 254bn colones in premiums (US$520mn) in 2007. (more)

By Maria Alejandra Moreno, Business News Americas - Panama's insurance industry reported a 30.0% rise in written premiums for the first 10 months of this year compared to the same period in 2007, according to figures from the insurance regulator. Total premiums amounted to US$606mn in January-October compared to US$466mn in the same stretch of 2007. Premiums are expected to keep up the current pace of growth until the end of the year, Bosco Quintero, executive director of Panama's insurance association Apadea, told BNamericas. Auto insurance, the largest segment, rose 36.4% to US$124mn. Growth in this line of business has been supported by the new obligatory auto insurance law, Quintero said. Total claims grew 36.8% to US$263mn in the 10 months compared to US$192mn in the same period in 2007.

By Kevin Bradley for Panama-Guide.com - With the heavy rains and serious flooding this week in Chiriqui and Bocas del Toro, it is important to check your fire insurance policy to make sure it contains coverage for flood and water damage. Fire Insurance policies for structures in the Republic of Panama are similar to those issued in the USA, Canada and Europe. The basic fire policy usually includes "extended coverage" for occurrences other than fire. This extended coverage should include Flood & Water damage, Explosion, Earthquake, Windstorm, Lightning, Smoke damage, Falling Objects and Debris Removal after an incident. Your homeowners "contents" coverage should also include Flood and Water damage protection. The customary deductible for this is 1% with a minimum deductible of $250 per event. For more information call Kevin 322-1603 or Carmen 322-1605 or visit our website.

Copyright 2008 by Kevin Bradley for Panama-Guide.com. Go ahead and use whatever you like as long as you credit the source. Salud.

By DON WINNER for Panama-Guide.com - Yesterday I had the pleasure of getting together for lunch with one of my good friends here in Panama, Kevin Bradley. Over the past several years Kevin has become the insurance provider of choice for a great many English speaking expatriates in Panama (for details see his website, PanamaKevin.com. Back when I was first starting up Kevin went out of this way to help be get going, to promote me and my website, and to drive potential advertisers my way. Kevin and his support staff are now working with the Ducruet Insurance Agency, one of the largest and best established in the country. At lunch yesterday Kevin said "I want to see what I can do to bring more people to my website." Well, there you go, amigo... Kevin has earned his excellent reputation through hard work, responsiveness, and going out of this way to take care of his customers. Quite literally, you can't do better. If you need insurance in Panama for any reason, give Kevin a call at 6674-1063.

Copyright 2008 by Don Winner for Panama-Guide.com. Go ahead and use whatever you like as long as you credit the source. Salud.

By DON WINNER for Panama-Guide.com - Earlier this week I published an article entitled "First World Medical Care at Third World Prices." It turns out that one of the email addresses originally presented in that article was incorrect or not functioning. Yesterday I received an email from a reader complaining that they can't get through. The error was a problem with a new website, and in order to contact Gonzalo de la Guardia please send an email to him at Gonzalo de la Guardia [gdelaguardia@gmail.com] or visit his website at www.expatshealthinsurance.com. Gonzalo asked me to express his apologies for any inconvenience this technological hiccup might have causes.

Copyright 2007 by Don Winner for Panama-Guide.com. Go ahead and use whatever you like as long as you credit the source. Salud.

The PUNTA PACIFICA / JOHNS HOPKINS PLAN (Exclusive Plus ™) is now available to Expats looking for the BEST medical care at a price they can afford. This Health Insurance Plan (Exclusive Plus™), underwritten by WorldWide Medical Assurance will get you access to both PUNTA PACIFICA HOSPITAL in Panama City and JOHNS HOPKINS in Baltimore, Maryland. The Punta Pacifica Hospital, affiliated with Johns Hopkins Medicine International, is located in the new and prestigious Punta Pacifica development in Panama City. They have a state-of-the-arts full service medical facility, offering a vast array of medical disciplines. The Hospital, designed to the standards of the Johns Hopkins Medicine International, includes 52 private rooms and 12 suites, designed to provide patients with the comfort and atmosphere they expect from a first class provider. The Intensive care unit, operating rooms, hemodialysis treatment units, neonatology rooms and the rest of patient care facilities are first class. In short, this is the best hospital in Panama. (more)

The only reason for this article is to give people a way to print the full-sized map to Kevin Bradley's new office. When I use a large image, it messes up the page layout on the web, so rather than doing that to the base article about Kevin's new office, I put the large map here. In order to print this map, just right-click on the image and select "print." You should be able to adjust the printing parameters to set it for a full page. Hope this helps...

By DON WINNER for Panama-Guide.com - Kevin Bradley is a good friend of mine. He's a great guy and will do anything for his clients. There are literally thousands of people who he has helped over the years, and as an insurance broker he's simply the best there is. Kevin, and his lovely assistants Carmen and Rosita have recently moved into a new office, and Kevin has been asking me for a week to help him get the word out. Unfortunately, my computer tanked last Monday and it's taken me a few days to get back on stride. Anyway, Kevin's new office is located on Calle 77 in San Francisco in the Ducruet building. To get there, go down Calle 50 almost to the end. You will pass the El Rey supermarket on your right, and at that point you should already be in the left lane. Look for the Deli Gourmet on your left, and turn left at the next street. The building is at the end of that block. (more)