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Insurance Law News
7/2/2008 11:05:06 PM EST
LexisNexis Insurance Center Staff
Costa Rican Congress approves ending its 84-year-old insurance monopoly

SAN JOSE Costa Rica – (AP) Costa Rica is saying goodbye to its 84-year-old insurance monopoly as it opens the industry to national and international competition.Lawmakers late July 1 approved legislation to end the government-run Insurance Institute. President Oscar Arias is expected to sign it into law. Washington demanded Costa Rica break up its monopolies before Oct. 1 for the implementation of the Central American Free Trade Agreement. Full version available to lexis.com subscribers.

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