Risk and insurance do not escape this reality and changes are being felt in the market. Risk management as a discipline and management process is not well known throughout the region but there is a growing need for these issues to be discussed and researched. Little by little those involved in the process of buying insurance for corporations are adding the risk management ingredient to their performance. There is a lack of formal education in risk management as it is not typically seen to be part of higher level university courses. Literature, books and other written information is not readily available, and when it is it is written in english.
Local culture considers insurance as a luxury instead of a necessity.
That is the case with insurance, so you can imagine what risk management has to go through to be learned, accepted and implemented. Nonetheless, there were pioneers in this aspect of promotion who are true risk managers. They met together back in 1993. Also by the changes felt in the economical, political and cultural fronts. There are many interested in promoting risk management in Latin America, and there are many Latin Americans interested in learning about risk management.