Influence of COVID 19 on commercial insurance in Venezuela
Abstract
The purpose of this research was to investigate the theoretical conception of the influence of COVID-19 on commercial insurance in Venezuela. The theoretical approaches of Strange (2003), Mankiw (2009), Contreras, (2008), Red Financiera Bac Credomatic (2008), Díaz, Ramírez and others (2021), the constitution of the Bolivarian Republic of Venezuela (1999) were used for its realization. Methodologically, it is a documentary research in which theoretical and legal foundations were consulted. It is concluded that for Venezuela, the tendency of the insurance market was oriented to keep local companies insured against risks. However, the dollarization of insurance portfolios is 92% for corporate, motor and health risks. Most of the risks in Venezuela are in the local insurance market, since, due to the sanctions, many reinsurers do not consider Venezuelan risks.
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References
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