Ecuador: Disaster insurance revenues fall 7% to $61 million in first half of 2014
Posted On: Oct. 1, 2014 12:00 AM CSTRevenues recorded by Ecuadorian insurers from policies covering catastrophes such as earthquakes, floods and explosions totaled $61 million during the first half of 2014, a fall of 7% year on year, reports Elcomercio.com.
The earthquake that hit the Ecuadorian region of Quito in August has brought back focus on these types of insurance.
An expert said insurance take-up for buildings is not improving significantly, despite rules that mandate coverage.