Section Index
- Our Insurance Partners
- Insurance Services
- Main Insurances
- Challenges
- Insurances Companies Mexico
- Mandatory Insurances
- Employee Benefits Insurance
- FAQ Insurances
Service providers
- Our Insurance Partners
- Insurance Services
- Main Insurances
- Challenges
- Insurances Companies Mexico
- Mandatory Insurances
- Employee Benefits Insurance
- FAQ Insurances
Insurance costs are a key factor and should be prioritized in supply chain analysis in Mexico, as they can heavily influence overall transportation expenses.
Mexecution Insurance Service Providers
Our Partners are leading companies in the Insurance sectors with 40+ years of experience. Some of them representing more than 20 renowned Insurance companies in Mexico, USA, and Canada. Whether fleet or truck, industrial assets, equipment’s, or employees, they guide you through the process to ensure your business meets all local insurance requirements seamlessly.
Click on a profile to learn more about each Insurance company
Main Industries: Manufacturing, Transportation, Healthcare Services
Main Industries: Automotive, Aappliances and Agriculture
Main Industries: Manufacturing, Technological Industry, Financial Services
Main Industries: Insurance for property damage, bonds, life, and medical expenses.
Main Industries: Metal Working Industries, Automotive
Corporate Services offered by our Insurance Partners
Partial List of the Services
- Property
- Fleet / Truck / Train / Marine
- Goods
- Machinery
- Liability
- Employee
- Medical Expenses
- Operational and Business Interruption Coverage
- Risk Management
- Risks Catastrophic
Main Services in Insurances
Here are some core services offered by our Insurance Partners.
Assets
Protecting industrial buildings with comprehensive asset insurance, covering key risks for unforeseen damages or losses.
Property and Structural Coverage;
- Against damages to the building structure, including fire, flood, storms, and vandalism
- Coverage for repairs like roofs, walls, foundations
- Water damage insurance
- General third-party liability
Transportation
Ensure your goods are protected throughout their journey—by land, sea, or air—from start to destination, domestically and internationally.
- Cargo Handling and Transit Risks; Wetting / Rusting / Breaking / Cracking, Denting / Bending / Leakage
- External Contamination and Loss Risks; Staining / Contamination / Strike Riot, Vandalism / Thefts
- Storage and Operational Risks; Warehouse to Warehouse / Loading and Unloading operations / Storage in Customs / Unpacking Breakdowns
Machinery
Specialized insurance solutions for commercial and industrial equipment, including cranes, lifting machinery, among others.
- Mechanical or electrical breakdowns
- Theft
- External damage
Challenges Insurances Mexico
In Mexico, carriers are not legally required to carry cargo insurance, and most do not, as their liability for stolen or damaged shipments is minimal. However, it is strongly recommend to have one to fully protect freight.
Fluctuation costs
Insurance costs in Mexico can vary significantly by region, primarily due to differences in risk levels. In areas with higher crime rates, natural disaster risks, or regions with frequent road accidents, insurance premiums tend to be higher. Insurers assess these regional risks when determining the cost of coverage for both property and camion insurance.
Robbery
Robbery on streets or highways is another risk in certain areas of Mexico, particularly for businesses transporting goods. Insurers often offer specialized coverage, such as robbery or hijacking insurance, to protect against losses incurred from theft during transit, including the costs of stolen goods, damages to vehicles, and potential legal liabilities.
Using Highways
Insurance companies force their customers to use highways instead of free routes, as they are safer and have better infrastructure. However, this results in considerably higher costs due to the expensive tolls.
Regulatory Complexity
Mexico's insurance industry is subject to stringent regulations, and businesses must stay updated on changing laws to ensure compliance. These regulations can vary by region and coverage type, creating a complex legal environment that requires careful navigation.
Cargo thefts reported 3,600 incidents in the year 2024, reflecting a 27% rise compared to 2023. The average loss per theft increased to $202,000 up from $188,000 in 2023. Hence, aving robust insurance coverage is essential.
Largest Insurances company Mexico
Here are the main insurance companies in Mexico that our business partners represent; however, they also offer services from several other well-known brands.
Mandatory Insurances Mexico
In Mexico, the main insurances required for a Nearshoring Operation include health insurance for employees, workers' compensation insurance, and general liability insurance.
Every employee in Mexico is required to have social security and must be registered with the Mexican Social Security Institute (IMSS) and the Institute for Social Housing (INFONAVIT).
A An employee is only entitled to continued wage payment if the cause is a work-related accident (from day 1). If the cause is not a work-related accident, social security covers from the fourth day onward, up to 60% of the salary.
By law, full continued wage payment is required for 84 days. If the employee has been insured for more than 30 weeks over the past 12 months, social security takes over the continued wage payment.
Employees contribute to an individual retirement account, which is supplemented by both the government and the employer. This ensures financial security in retirement.
Employee Benefits Insurance
The Workplace Accident Insurance (Prestaciones por Riesgo de Trabajo) covers accidents and injuries that occur in the workplace. It provides medical care, rehabilitation, and wage replacement in case of work-related disabilities.
Many companies offer voluntary life and accident insurance as an additional social benefit, providing increased security for employees and minimizing risks.
Some companies offer private health insurance to provide more comprehensive healthcare options beyond the basic social security coverage, including dental care, eye care, and medications.
FAQ Insurances
Some of the most asked questions regarding Insurances
Global Reach: The ability to manage claims and provide services across multiple regions if needed.
Expertise: Knowledge of the local market, laws, and risks to tailor policies accordingly. Ensuring they understand the legal requirements and risks specific to their industry in the new market.
Management: Accompanying businesses through the process of securing insurances.
Comprehensive Coverage: A wide range of insurance options (property, liability, employee, and cargo) that cover specific risks in the new country.
24/7 Service: Providing clients with 24/7 access in the event of an incident, offering solutions, and guiding them through the entire documentation process to ensure a transparent and efficient claim for the covered costs.
Businesses in Mexico face risks such as:
- Natural disasters (e.g., earthquakes, hurricanes)
- Crime rates in certain regions
- Complex legal and regulatory frameworks
Yes, many international insurance providers offer global policies that can cover your business operations in Mexico.
Insurance costs depend on various factors such as the type of coverage, the size of your business, the industry, and the region in which you operate.
Toll costs and infrastructure conditions can also affect premiums, particularly if your business involves logistics.
Waiting periods vary depending on the insurer and the type of coverage. Generally, property and casualty insurance can begin within a few days, but it’s important to confirm with your provider to avoid gaps in coverage during your expansion.
Why Choose Mexecution?
Transparency & Honesty
Transparency and honesty are the cornerstones of our business, as we firmly believe in fostering trust and open communication with our clients and partners.
Reliability & Punctuality
Our service providers deliver reliable and timely services, consistently prioritizing client satisfaction and fostering trust, with the goal of building long-lasting partnerships that drive mutual success.
Trust
Trust is the foundation of our and our Service Providers' relationships, built on open communication, integrity, and exceptional service delivery.
Quality & Standards
Our Service Providers are committed to excellence through meticulous detail, continuous improvement, and strict quality control in all operations.
Industry Sectors
15+
C-Level Contacts
80+
Clients
500+
Years of experience
20+