There are different ways to establish an International Insurance Program for a risk located in Mexico which are: Controlled Master Program (CMP) Non-Controlled program Stand-alone local coverage First of all, it’s important to remember that non-admitted insurance in Mexico is prohibited, as per Article #3 of The General Law of Insurance Institutions and Mutual’s, which establishes the general legal framework for all insurance related operations in the Country.
In Mexico there several type of policies, being the main type, resident policies; then there are tourist auto, both northbound and southbound, to and from the USA; then the resident policies are divided into Trucks and private passenger vehicles; all policies include the third party liability coverage and the legal assistance which could include a bail bond in case of a major accident; medical expenses and the type of coverage are optional.
Regarding Life Insurance in Mexico, is very important how to fill out the application and tell the truth regarding the medical history of the insured, dates of birth etc… as some people request their policies when they know they have a terminal sickness death ahead and in case of such event, the insurance company can easy discover the lies on the application and certainly will deny coverage. Saying the truth will guarantee that if the insurer binds coverage anything ahead will be duly covered.
Our Group, Macafee & Edwards Inc, is a surplus lines broker in CA with an office in Tijuana, Mexico (Proteccion Tecnica Internacional). Our group is also part of the Protec Network with offices in several main cities of Mexico. We work for all Regional, National and International Agents/Broker, designing & implementing insurance programs and solutions for accounts with exposures in Mexico. Our specialty are package policies where we can combine Property, Casualty and Miscellaneous exposures, under a single policy.
Health insurance in Mexico covers individually (or a family policy) or being part of a group, expenses due to hospitalization due to sickness or to accident and includes doctors visits, medicines, lab studies, x rays & blood tests and surgery always and as long as the claim amount be over the deductible agreed in the policy. If there is a preexisting condition, the insured has to declare it in the application before insurance is in force and might be declined depending the specific case, but also since there are sickness and conditions such as pregnancy, that have a waiting period, some diseases even for more than 12 months, such as AIDS among others, all these questions have to be dully filled out.