📋 Tender Overview
The President of the Bolivarian Republic of Venezuela, Nicolás Maduro Moros, announced the entry into force of the Decree with Rank, Value and Force of the Law of the Insurance Activity of Venezuela, with the aim of strengthening this economic sector so that it adapts to the new times.
"With packages of real protection for the family, for property, there are sectors that are lagging behind, as a result of the times we are living in and as a result of the ravages, the economic war, the sanctions that we have experienced," said the President.
For her part, the Executive Vice President of the Republic and Minister of People's Power for Finance, Delcy Rodríguez, reported some of the elements included in the legal instrument.
"The deadlines for the payment of compensation to the insured are reduced, in addition to strengthening the sanctioning capacity of the insurance activity," he detailed.
Rodriguez stressed that banks will play an important role in developing this new project more productively, which seeks to be another boost to the Venezuelan economy.
"It's a law of balance (...) to create strengths in terms of our own services," he said.
The information was released during the Council of Productive Economy in the National Union, held in the city of Caracas, specifically at the Miraflores Palace.
