Union de Seguros - CLOSED DOWN

SantiagoDR

"46"
Jan 12, 2006
5,412
565
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:


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
 
Last edited:
Jan 9, 2004
9,117
461
83
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:


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

"46"
Jan 12, 2006
5,412
565
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
18,946
501
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
6,731
154
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
188
0
34
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

"46"
Jan 12, 2006
5,412
565
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
7,465
138
63
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
1,616
14
0
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

"46"
Jan 12, 2006
5,412
565
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