Insurance is no different abroad; it's better to be caught with it, than without it. Once you've decided to have a presence in Panama, you'll want to insure your valuables (including yourself).

There are lots of local insurance brokers and companies that for certain you won't have any trouble finding. However, there's one particular company/businessman that's well known throughout the expat community; you can visit www.panamakevin.com and find out more about it/him for yourself.