Environment and insurers advance in the implementation of the Environmental Compensation Fund

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Summary:

The Ministry of Environment and Sustainable Development and the Superintendence of Insurance of the Nation have held a meeting with insurance companies that commercialize the Collective Environmental Damage Liability Insurance policy. The meeting aimed to continue efforts to universalize environmental insurance and compensate for environmental damage. It was agreed to establish the Environmental Compensation Fund, with insurance companies paying a 0.50% premium on their issued policy shares on a quarterly basis. The Superintendence of Insurance will be responsible for collecting this premium and reviewing it every six months. The insurance companies and government representatives present at the meeting included Testimonio S.A., Naciu00c3u00b3n Seguros S.A., and others.

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