The Superintendencia de Compañías, Valores y Seguros (SCVS) participated in the event “Ecuador Resilient: From 16A to a National Financial Protection Strategy,” which was organized by the Federación Ecuatoriana de Empresas de Seguros with support from the United Nations Development Programme. The event brought together key stakeholders to discuss Ecuador’s challenges in facing disasters, according to an April 15 announcement.
The discussion focused on lessons learned from the 2016 earthquake and highlighted gaps in financial protection that became evident after the disaster. This topic is important as it addresses how Ecuador can better prepare for future high-impact events through improved risk management and insurance coverage.
Luis Cabezas-Klaere, Superintendent of SCVS, spoke during Panel 1 titled “Diagnosis and Legacy of the 16A Earthquake.” He discussed key lessons in supervising the insurance market, advances and ongoing challenges within the sector, and emphasized strengthening public-private coordination as well as regulatory improvements to reduce financial coverage gaps.
Cabezas-Klaere said, “Insurance education is fundamental, so actions should be promoted to highlight real experiences such as those who have been compensated; this way, citizens will be able to more closely understand the importance of insurance and move towards a culture of prevention.”
The event allowed participants to compare evidence and technical approaches among system actors. Organizers said it generated inputs for designing more efficient financial protection mechanisms and improving coordination within both institutional responses and the insurance market when responding to major events.
