The Superintendencia de Compañías, Valores y Seguros (SCVS) participated in the event “Ecuador resilient: from 16A to a national strategy for financial protection,” according to an April 15 announcement. The event was organized by the Federación Ecuatoriana de Empresas de Seguros (FEDESEG) with support from the United Nations Development Programme and brought together key stakeholders to discuss Ecuador’s challenges in facing disasters.
Luis Cabezas-Klaere, Superintendent of SCVS, took part in Panel 1 titled “The Diagnosis and Legacy of the 16A Earthquake.” This panel reviewed lessons learned from the 2016 earthquake and examined gaps in protection that became evident after this event.
Cabezas-Klaere discussed important learnings in supervising the insurance market, highlighting both progress and ongoing challenges. He addressed the need for stronger public-private coordination and regulatory improvements to reduce gaps in financial coverage and improve risk management.
During his remarks, Cabezas-Klaere said, “insurance education is fundamental, so actions should be taken to highlight real experiences such as those who have been compensated; this way, citizens will better understand the importance of insurance and move towards a culture of prevention.”
The session allowed participants to compare evidence and technical approaches within the system. It also generated input for designing more efficient financial protection mechanisms and improving coordination among insurance market actors when responding to high-impact events.
