Costa Rica’s Legislative Assembly is currently analyzing motions for the modification of the Bill of law for the Regulation of Insurance Contracts. The purpose of this project is to update national legislation on this matter, which dates from beginning of 20^th century. On its edition of August 27^th, La Nación newspaper consulted the opinion on this topic of Facio & Cañas’ Chairman, Víctor Garita.

Garita commented that the modifications on the insurance market legal standards are of great importance, in order to adapt them to the expected open market. “This bill of law contains regulations of public order. Even in a private sphere, modern law recognizes the existence of certain subjects that can be considered public interest matters”, said the attorney to the newspaper.