eMex NEWS

eMex
NEWS
Tijuana, Baja California. Issue 8– 3rd Quarter, 2012
Inside this issue:
1
EDITORIAL
¿Eres arrendatario de una casa,
una oficina o edificio? ¡Ojo con
esto!
Tijuana Innovadora
EDITORIAL
2-3 Notes on the Mexican Industry
- Mexican industry and the
Beer World markets
- Money Laundering and Bribes
in Mexico
- Hurricane report 2012
(Up to 9/30)
- Insurance in Latin America
4-6
Technical Article
6
Something to laugh about...
An event called “ Tijuana Innovadora “ has been
taken place during October 11 thru the 21st and
this forum which takes place at Cecut, our cultural
center, is a forum being represented by many
sectors of our society. In the inauguration, by
President Calderon, the subject was “ for a Green
Tijuana “ presented by Philippe Cousteau, which is
what we, all as a whole, are looking for to create
consciousness about our world and non renewable
resources. 12 out of 14 subjects were about Education, presented by the Deans of UCSD and our
UABC, Media , San Diego Union editor, Design, Ximena Valero, a Tijuana international fashion designer, and the booming wine and food industry of
the region. Events such as the “ battle of Chefs “
such as the Iron Chef took place along with
conferences about these topics with people invited
from all over the world, such as the “ Cooking
Siempre tienes que tener tu propio seguro de responsabilidad civil arrendatario, aunque no haya contrato, e independientemente si el casero o
arrendador tenga su propio seguro; ya
que al efectuarse una pérdida la aseguradora del arrendador les pagará el
seguro, pero se van legalmente en
contra de quién resulte responsable
por el incidente, en cuyo caso lo más
probable es que sea el arrendatario,
por eso necesitas protegerte.
Guy, Sam “ The 15th to 17th focused in industries
such as the Air and Space, the CEO of Virgin
Airways, Electronics we had the visit of” Woz”
Steve Wozniak, the cofounder of Apple, the the
Auto Industry we had Mr. Maurizio Corbi main designer at Ferrari in Italy, the president of Delphi,
and the maquiladoras in general. As you know,
most of these so called maquiladoras are 100% foreign owned and manufacture products for U.S.
consumption. The 18th to the 20th the subjects are
Humanism, Filantropy we had Mr. Mahindra from
India who happens to have 140,000 employees,
Enterprenurial Leadership.
The Idea about this 10 day event is to show the
locals and the world a vision of today and
tomorrow, and what the city can provide for a
better world.
MEXICO OFFICE
Av. Las Palmas, Fraccionamiento Las Palmas 4912, Tijuana, B.C. México.
Tel. 01152 (664) 134-6520 Fax. 01152 (664) 621-1819, [email protected]
eMex NEWS
Notes on the Mexican Industry
Mexican industry and the Beer World markets
Years ago, many large beer factories in Mexico
had a tough competition but globalization of the
world market has shrank to few large mega corporations. Grupo Modelo owner of beers: Corona,
Pacifico, Victoria, Modelo Especial, Estrella, Leon
Negra, Carta Clara, Montejo, sold a large chunk of
its stock first to Anhauser Busch < Budweiser > and
then all has been purchased by a consortium led by
a Brazilian company AmBev and a Belgium group
Interbrew for an amount reaching 52 billion dollars.
The new group now called AB InBev, now has consolidated as the largest brewery group in the world
with beers like Corona, Budweiser , Stella Artois.
Number two group worldwide is SAM Miller Coors <
Miller, Coors, Fosters, Aguila > and the third is Heineken group who in turn purchased Mexico second
largest brewery group named Cuauhtemoc-
¿Eres arrendatario de una casa,
una oficina o edificio? ¡Ojo con
esto!
Siempre tienes que tener tu propio seguro de responsabilidad civil arrendatario, aunque no haya contrato, e independientemente si el casero o
arrendador tenga su propio seguro; ya
que al efectuarse una pérdida la aseMoctezuma:
XX, Bohemia,
Sol, Tecate,
guradora
del arrendador
lesetc…
pagará el
Thisseguro,
is Globalization.
output en
for the
pero seThe
vanAnnual
legalmente
three contra
groups are:
10
billion
gallons,
4.6
million
de quién resulte responsablegallons and 4,2 million gallons respectively. The large
por el incidente, en cuyo caso lo más
beer factories that used to be Mexican are now all
es que
sea el arrendatario,
in the probable
hands of foreign
multinationals.
porEXPANSION
eso necesitas
SOURCE:
< CNNprotegerte.
TIME INC >
Money Laundering and Bribes in Mexico
The way to do business in Mexico is changing and improving in general due to new transparency laws; however
all of a sudden things change around. The two most recent
and upsetting cases are HSBC the giant bank whose Mexican division has presumably laundered 7 billion dollars according to the U.S. Senate. Amazing? When an individual
wants to deposit one dollar in cash money HSBC cannot
accept it and now see the news!
Walmart is another one who came public, that they
bribed government officials so they could open a store in
Mexico in an area considered ecological reserve.
SOURCE: EXPANSION < CNN TIME INC >
USA OFFICE
700 S. Flower Street, Suite 1216, Los Angeles, CA. 90017.
Tel. (213) 629-9777 Fax. (213) 629-9779, [email protected]
eMex NEWS
Hurricane report 2012—UP TO 10/20
Very mild year in both oceans for Mexico, most
of the hurricanes have travelled in water only.
In the Pacific side only one major hurricane BUD,
early in the season, May 21-26 hit the coasts of
Jalisco in the Mexican Pacific causing some minor
damages, specially as it did not hit any cities or resorts. Another Hurricane CARLOTTA in the middle
of June came through the Gulf of Tehuantepec in
Oaxaca, in the southwest coasts of the country.
July and August were of little activity and then in
September which is usually the toughest month
only a Tropical Storm Norman came by some 200
kilometers south of Cabo moved north thru the
Sea of Cortes reaching the inner part of the middle
of the Peninsula, actually bringing some desired
rain.
In the Atlantic side, a very lucky year as well, a
total of 14 Tropical Storms and Hurricanes, from
which only one Major Hurricane came about,
MICHAEL, from September 3rd to the 11th and went
right through the middle of the Atlantic Ocean.
Visiting Mexico, only one Hurricane, ERNESTO,
from August 1st to the 11th travelled quite far landing and crossing through the Yucatan Peninsula
dying down in between the states of Chiapas and
Oaxaca in the southeast of Mexico. Another Tropical Storm HELENE, in the middle of August also
attempted
to arrendatario
harm but died down
the casa,
state of
¿Eres
de in
una
Veracruz, the heart of the Gulf of Mexico. The
una oficina o edificio? ¡Ojo con
overall largest hurricanes of all were Emilia,
Miriamesto!
and Daniel all in the Pacific, with winds of
140, 120 and 115 miles per hour, and without
coming
close to Mexico.
A pretty
lucky
Siempre
tienes que
tener
tuyear.
propio seLATEST NEWS: Hurricane Paul has emerged from
guro de responsabilidad civil arrendathe south Pacific with winds at 120 miles per hour
tario,
noofhaya
contrato,
inbecoming
theaunque
5th largest
the Season,
fromeOctoth
el casero
ber 11dependientemente
through the 17th insiwhich
lands oin the
tenga suofpropio
seguro;
ya
outer arrendador
part of the Peninsula
Baja, right
at the
middleque
of it,
Guerrerouna
Negro,
land oflaone
al near
efectuarse
pérdida
ase-of
the largest
salt facilities
in the worldles
< Mitsubishiguradora
del arrendador
pagará el
Mexican Govt. joint venture > which might have a
seguro, pero se van legalmente en
loss, but no fatalities, this has been confirmed.
contra
de quién
resulteCENTER
responsable
SOURCE:
NATIONAL
HURRICANE
por el incidente, en cuyo caso lo más
probable
es que
sea el arrendatario,
Insurance
in Latin
America
por eso necesitas protegerte.
In 2011 all premiums, all lines, comprised in
Latin American, when divided by countries, we get
the following breakdown:
Brazil has 37% of all premiums, Mexico 16%,
Puerto Rico is third with 9% Venezuela with 7%
Argentina 6.8% , Chile 6.7%
Breaking News
ACE LTD has announced the acquisition from ALLY Financial,
formerly the lending arm of General Motors credit, of ABA Seguros,
a Mexican insurance company based in Monterrey, for the amount
of 865 million dollars. Also ACE has purchased for an amount close
to 280 million the second largest bonding company in Mexico,
Fianzas Monterrey. This is a huge jump in penetration of the Mexican Insurance/bonds marketplace adding to their local operation.
ACE Mexico, which currently had 10 offices and about 300
employees. ABA itself was much bigger than ACE Mexico , with
annual paid premiums of about 470 million dollars twice as much as
ACE Mexico. ABA is a 100% property, casualty & auto writer, while Fianzas Monterrey is a 100% bonding
company specialized in administrative bonds, mainly performance bonds.
MEXICO OFFICE
Av. Las Palmas, Fraccionamiento Las Palmas 4912, Tijuana, B.C. México.
Tel. 01152 (664) 134-6520 Fax. 01152 (664) 621-1819, [email protected]
eMex NEWS
Technical Article
AUTOMOBILE INSURANCE MARKET IN MEXICO
(Part II) ¿Eres arrendatario de una casa,
In our 2nd Qtr. issue (#7) of 2012, we covered the
basics of the automobile insurance market in Mexico.
We provided you with sales numbers, who the major
players are in the industry as well as the basic scope
of the coverage provided.
In this issue, we are going to go into details about the
existing categories in the industry and specific
available coverage .
CATEGORIES
I.
Private Resident Autos: Vehicles with Mexico
license plates (registered in Mexico) and purpose is
to transport individuals or goods with a noncommercial purpose.
II.
Commercial Resident Autos: Vehicles used for
commercial purpose (also registered & carrying
Mexico plates). The majority of the carriers will
classify a vehicle as commercial units if they weigh
3.5 tons or more, pick-Up’s and Vans that are not labeled or registered to a corporation a/o are insured
under a private resident auto policy.
III. Tourist Autos: Vehicles with foreign plates (US
or Canadian) entering Mexico either for private or
commercial use.
IV. Other Autos (Mandatory/
Compulsory): This category was
recently created and its intention
is to comply with the mandatory
liability coverage in the state where
the coverage is in force/required.
ABOUT THE COVERAGE
As commented in our previous
E-news, the structure of an auto
policy is very similar between
carriers. Names on coverage,
scope, limitations and exclusions
will vary depending on strategies of
una oficina o edificio? ¡Ojo con
each specific carrier. The following summary is
esto!
solemnly to provide a general overview, and by no
means reflects the entire coverage available in the
Siempre
tienes que
tener tu propio seMexican
auto insurance
industry.
a) Physical
guroDamage
de responsabilidad civil arrendaScope:tario,
Coversaunque
losses orno
damages
that the insured’s
haya contrato,
e inunit suffers
due
to
collisions,
overturns
hurricanes,
dependientemente si el casero o
hail, earthquakes, volcanic eruptions, landslides,
arrendador tenga su propio seguro; ya
fallen objects, strikes, riots, malicious acts , transqueofalthe
efectuarse
pérdida
la aseportation
vehicles, una
etc. In
most cases
glass
guradora
arrendador
pagará but
el
breakage
is also del
offered
under thisles
coverage,
with aseguro,
20% deductible.
pero se van legalmente en
Major contra
Exclusions:
Mechanical
failures;
normal wear
de quién
resulte
responsable
and tear;
depreciation
or
damage
caused
its own
por el incidente, en cuyo caso by
lo más
cargo; damage caused by the normal action of the
probable es que sea el arrendatario,
tide; damage caused by aggravation of risk ; damage
necesitas
protegerte.
causedpor
by eso
off-road
transit or
use of the vehicle for
racing unless explicitly indicated on the policy or
damage caused by a covered risk.
Deductibles: Usually a fixed percentage (2%, 5% or
10% of the value of the vehicle).
Important notes: Vandalism, partial theft and
Driving under the influence are not standard
coverage.
b) Total Theft
Scope: Covers the theft of the insured unit or the physical damage
caused as a consequence of its
theft.
Major Exclusions: Partial theft; mechanical failures, losses caused by
the depreciation of the unit; breach
of faith; extortions.
Deductibles: Usually a fixed percentage (5% or 10% of the value of
the vehicle)
USA OFFICE
700 S. Flower Street, Suite 1216, Los Angeles, CA. 90017.
Tel. (213) 629-9777 Fax. (213) 629-9779, [email protected]
eMex NEWS
c) Property Damage/Bodily Injury Liability
Scope: Provides third party liability (PD/BI) in the
event that the Insured or any other authorize person
driving the insured unit causes damage to a third
party.
Costs and expenses arising from civil suits brought
against the Insured are usually included under the
PD/BI limit (some carriers will provide an additional
extra percentage for this coverage).
Major Exclusions: Property damage liability to any
goods that are under the care, custody or control of
the Insured; property of insured’s dependents ;
property inside the insured’s unit; Injuries to insured’s legal dependents and/or occupants in the
covered unit.
Deductibles: Usually, no deductible will apply, but in
certain cases an amount will apply. This is based on a
certain number of days of the minimum salary wage
in Mexico City (DSMVDF).
Important note: For commercial units and when a
second trailer is utilized; it will only be insured if it is
stipulated on the policy.
d) Occupants Medical Expenses
Scope: This coverage provides medical expenses for
hospitalization, medical attention, nurses, medicine,
ambulance service and covers funeral expenses to
the insured or occupants while in the vehicle and due
to bodily injury, whether it’s due to a traffic accident or as a consequence of a total theft with violence.
¿Eres arrendatario de una casa,
Major Exclusions: Orthodontic treatments, prosuna
oficina
o edificio?
¡Ojo con
thesis
of any
type and
cosmetic surgery;
medical
expenses
esto!arising as a result of injures from a
fight; any fees, medical or surgical treatments
performed by any acupuncturist or doctor withtener
tu propio
seout Siempre
a proper tienes
license; que
injuries
to the
driver and
guro de
responsabilidad
civil
occupants
when
the vehicle is used
for arrendasuicide.
Deductibles:
No deductible
willcontrato,
apply.
tario, aunque
no haya
e inImportant
notes: Limits cansibeeloffered
dependientemente
caseroasoa Combined
Single
Limits
(CSL)
or
as
split
limits.
arrendador tenga su propio
seguro; ya
Additional Coverage:
que al efectuarse una pérdida la aseParticular names on each additional coverage,
guradora
deland
arrendador
les pagará
el
scope,
deductibles
limits will vary
depending
seguro,
pero
legalmente
en
on each
carrier,
but se
ourvan
intention
is to emphasize
some
of the de
most
important
additional
coverage
contra
quién
resulte
responsable
thatpor
can el
accompany
theen
basic
one.caso lo más
incidente,
cuyo
Partial
theft: Asesa que
consequence
of a partial theft,
probable
sea el arrendatario,
this coverage will cover any parts inside or outpor eso necesitas protegerte.
side the insured unit.
Extension of Civil Liability and/or Legal Defense:
This coverage extends the liability coverage and/
or the Legal Defense to other units as long as
those units are of similar type, class and use.
Liability in the USA: PD/BI Liability in the USA is
granted for private use vehicles. Some carriers
are already including this coverage as part of
their basic coverage. For commercial units this
coverage has to be requested and an additional
application is needed.
Conversions/Adaptations and Special equipment: Insures the physical damage, theft and Liability of the installed equipment.
Automotive Accidents to the driver: This
coverage offers compensation due to death or
loss of one or several organs caused by an automotive accident and for the limit stipulated on
the policy.
MEXICO OFFICE
Av. Las Palmas, Fraccionamiento Las Palmas 4912, Tijuana, B.C. México.
Tel. 01152 (664) 134-6520 Fax. 01152 (664) 621-1819, [email protected]
eMex NEWS
Road and Medical Assistance: Provides a wide variety o services
Passenger Liability: This coverage will pay for
damage caused to passengers when properly
utilizing public service transportation.
Substitute Vehicle: In case of a theft or total loss
of the insured unit, the carrier will provide the insured with a vehicle for a certain period or will
provide the insured with a cash allowance that
varies between carriers.
Consequential Losses: In the event that the carrier
¿Eres arrendatario de una casa,
fails to deliver the insured unit at the proposed
unawill
oficina
o edificio?
¡Ojo
con
date; they
pay a daily
fixed amount
previously
establish
in the policy.
esto!
All Terrain: Coverage is only provided to vehicles
with private use that have encountered damage to
Siempre
tener
propio
sethe lower
part tienes
of the que
insured
unittuwhile
being
guro de responsabilidad civil arrendaaunque no haya contrato, e inOur Group, Macafee & Edwards Inc, surplus lines broker tario,
in
dependientemente si el casero o
CA and Proteccion Tecnica < formerly Lopez & Viana > in Mexico, thank all our producers for the Mexican business that we
arrendador tenga su propio seguro; ya
get from you and encourage you to keep considering us when
que al efectuarse una pérdida la aseplacing local admitted insurance in our country. Our specialty
guradora del arrendador les pagará el
is package policies where we can combine, Property, Casualty
seguro, pero se van legalmente en
and Miscellaneous exposures. Keep in mind that we have dicontra de quién resulte responsable
versified and have solutions for any type of insurance or bond
por el incidente, en cuyo caso lo más
needs in Mexico. We can do mono line or stand alone policies,
among others, cargo insurance in Mexico, for instance, where
probable es que sea el arrendatario,
we can pick up the insurance at the border, or preferable, the
por eso necesitas protegerte.
whole trip that can be worldwide as long as the origin or destination be Mexico. For Personal Lines we have solutions on
line, where you can buy our policies, English and Spanish, for
homeowners, autos & trucks north and south bound, foreign aircraft and boats visiting Mexico. Our staff
is fully bilingual and bicultural and our partners are Mexicans, so we know our country well, in order to
advise you properly.
Something to laugh about
I was driving when I saw the flash of a traffic camera. I figured that my picture had been taken for
speeding, even though I knew I wasn’t. Just to be sure, I
went around the block and passed the same spot,
driving even more slowly. But again the camera flashed.
Thinking this was pretty funny, I drove past even slower
three more times, laughing as the camera snapped away
each time while I drove by it at a snail’s pace.
Two weeks later, I got five tickets in the mail for driving without a seat belt.
USA OFFICE
700 S. Flower Street, Suite 1216, Los Angeles, CA. 90017.
Tel. (213) 629-9777 Fax. (213) 629-9779, [email protected]