Guatemala - Insurance

In 1999, there were at least 15 registered insurance companies operating in Guatemala. In addition, the National Mortgage Credit Institute, a government corporation, dealt in both life and nonlife insurance policies. Workers' compensation, a part of the social security scheme, is compulsory in Guatemala. Additionally, the social security scheme provides pension, disability pension, medical and hospital benefits, maternity benefits and funeral expenses. The insurance market in Guatemala is entirely domestic, as foreign insurers are prohibited from issuing policies.