Nicaraguan Commercial Insurance


Nicaraguan Shipping and Transportation Insurance,shipping called seguro de transporte de carga in Nicaragua, this insurance is used to insure imported and/or exported products and merchandise while they are being shipped.

Two types of policies are available: single trip insurance coverage and multi-trip, written on a yearly basis. This insurance can cover transportation via air, sea and ground from door to door.

Example: We cover importers who bring merchandise overland from Mexico to Nicaragua, a free trade zone company that imports machinery from Switzerland via container ship to Costa Rica and then overland to Managua.

Fire Insurance, called seguros contra incendio in Nicaragua is probably the most common type of business insurance coverage. Protects against fires, lightning, explosions, tremors, earthquakes, volcanic eruptions, floods*, high winds, hurricane, riots demonstrations and protests. Nicaraguan insurance companies can offer this coverage for the merchandise within a building, for rented premises, in addition to the structure itself.

Liability Insurance, called responsabilidad civil by the Nicaraguan insurance companies. There a many types with the most common in Nicaragua being general liability and special hotel liability with food and beverage coverage.

Nicaraguan liability insurance protects  the insured against legal judgments rendered by the Nicaraguan judicial system. While protection outside of Nicaragua may be necessary, these local policies do not afford coverage for suits brought in other jurisdictions (i.e. the United States) for actions that may have occurred in Nicaragua.

Construction Insurance

Nicaraguan insurance companies underwrite and issue most of the basic constructionbusiness and construction type of coverages used throughout the world. They may not be as encompassing as in other countries but are quite adequate for most risks faced in Nicaragua. At CSISA we routinely place the insurance coverage mentioned below for our clients.

Contractors All risk, (CAR) called todo riesgo de construccion in Nicaragua, offers protection against risk associated with new construction projects.

Contractors Equipment, called equipo de contratista in Nicaragua, cover all types of owned or leased equipment used by contractors to move and lift objects, and build, erect, and excavate.

Liability Insurance, called responsabilidad civil in Nicaragua, indemnifies insured contractors against claims by third parties.**

Bonds, called fianzas in Nicaragua, are available, most common are completion bonds, bid bonds, retention bonds, hidden defects bonds and employee fidelity bonds.

* Damage from floods are covered only when the water touches the ground before entering the structure (rising water) exactly opposite from standard HO policies written in the U.S.

**Liability insurance in amounts over $500,000 is generally not available from Nicaraguan insurance companies without going to the re-insurance market. As such, the time needed to quote and secure coverage can take 3 to 7 days longer.