Union de Seguros - CLOSED DOWN

SantiagoDR

The "REAL" SantiagoDR
Jan 12, 2006
5,808
948
113
I'm probably the last one to find out, when I went to renew my car insurance the office in Santiago was closed down. All phones number are not in service. So went to another insurance company and they turn me that Union de Seguros had gone into bankruptcy so to speak.

So evidently I have been driving with no insurance for many months.

Just in case I'm not the only one that did not know.

The following Insurance company is no longer in business here:

2805jb6.jpg

Ejecutivos de Uni?n de Seguros dejaron de pagar RD$70 millones
La Uni?n de Seguros fue cerrada por la DGII hace tres d?as y el di?logo tambi?n

http://www.diariolibre.com/economia/economia-personal/ejecutivos-de-unin-de-seguros-dejaron-de-pagar-rd70-millones-CCDL933441
 
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SantiagoDR

The "REAL" SantiagoDR
Jan 12, 2006
5,808
948
113
Good thing I did not have to use the insurance - Nothing is sacred here!
 
Jan 9, 2004
10,897
2,224
113
I'm probably the last one to find out, when I went to renew my car insurance the office in Santiago was closed down. All phones number are not in service. So went to another insurance company and they turn me that Union de Seguros had gone into bankruptcy so to speak.

So evidently I have been driving with no insurance for many months.

Just in case I'm not the only one that did not know.

The following Insurance company is no longer in business here:

2805jb6.jpg

Ejecutivos de Uni?n de Seguros dejaron de pagar RD$70 millones
La Uni?n de Seguros fue cerrada por la DGII hace tres d?as y el di?logo tambi?n

http://www.diariolibre.com/economia/economia-personal/ejecutivos-de-unin-de-seguros-dejaron-de-pagar-rd70-millones-CCDL933441

This is related to the Banco Peravia closing/scandal....I am not surprised.

While you may have been driving without benefit of insurance....the silver lining is....you did not need to try and use it.

Time for you to get new insurance ASAP.


Respectfully,
Playacaribe2
 

SantiagoDR

The "REAL" SantiagoDR
Jan 12, 2006
5,808
948
113
I bought new insurance today after I found out they were closed down.
Since I pay annually, I did not know about the shut down until renewal time.
 

Hillbilly

Moderator
Jan 1, 2002
18,948
514
113
They were notorious for not paying claims. They used to be owned by the Corti?a family...who lived big.

The next-worst company is Patria, who also do not pay claims.

Use the major players: BanReservas, Universal, Palic....


HB
 

caribmike

Gold
Jul 9, 2009
6,808
202
63
They were notorious for not paying claims. They used to be owned by the Corti?a family...who lived big.

The next-worst company is Patria, who also do not pay claims.

Use the major players: BanReservas, Universal, Palic....


HB

I am with BanReservas "Seguro full" (Had no choice since they financed my car but happy to be with them). Twice I was hit and they paid without any problems.
 

Criss Colon

Platinum
Jan 2, 2002
21,843
191
0
38
yahoomail.com
I NEVER pay for anything in advance here.
Insurance, school tuition,service contract,NADA, a dominican looses all incentive to give any service, once they have your money.
Wanna be sure you never see a maid,carpenter, plumber, mechanic,or painter again, pay in advance.
Want a Domiican out of your life forever, loan them some pesos!

CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC
 

SantiagoDR

The "REAL" SantiagoDR
Jan 12, 2006
5,808
948
113
They were notorious for not paying claims. They used to be owned by the Corti?a family...who lived big.

The next-worst company is Patria, who also do not pay claims.

Use the major players: BanReservas, Universal, Palic....


HB

Until this shut down, I had no problem with them,
My first car was nearly totaled while it was parked!
They paid to have it repaired, no problems.

I heard Monumental was bad for paying, but they also paid me when a City truck hit my car, again, it was stopped and not moving.

Another time I was stopped at a traffic light and a woman driver ran into the back of the car.

I guess the lesson learned here is:

Keep it moving to avoid getting hit.
 

zoomzx11

Gold
Jan 21, 2006
8,367
842
113
Typical Dominican third world event. And where was the government in charge of policing the insurance companies? Nothing is for sure, nothing is sacred, no one is safe. Congratulations on your good fortune, you are a very lucky person.
 

santa110xyz

Active member
Oct 25, 2005
571
0
36
I NEVER pay for anything in advance here.
Insurance, school tuition,service contract,NADA, a dominican looses all incentive to give any service, once they have your money.
Wanna be sure you never see a maid,carpenter, plumber, mechanic,or painter again, pay in advance.
Want a Domiican out of your life forever, loan them some pesos!

CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC

jajajajaaaaaaaaaaaaaaa truly wise words!!!!
general rules of survival :)
 

Kipling333

Bronze
Jan 12, 2010
2,528
829
113
Typical Dominican third world event. And where was the government in charge of policing the insurance companies? Nothing is for sure, nothing is sacred, no one is safe. Congratulations on your good fortune, you are a very lucky person.

Have you never heard of a failure of a second line insurance company going bust and leaving clients in the lurch . The big boys all have reinsurance to ensure that a big claim , does not put them out of business. They employ actuaries that are masters with maths
 

SantiagoDR

The "REAL" SantiagoDR
Jan 12, 2006
5,808
948
113
Have you never heard of a failure of a second line insurance company going bust and leaving clients in the lurch . The big boys all have reinsurance to ensure that a big claim , does not put them out of business. They employ actuaries that are masters with maths

They were closed by DGII for not paying taxes to the tune of around RD $70 million