In addition to selling insurance, it has managed the Fire Department, health services and has joined a network of medical facilities throughout the country.

It was created by Act No.12 of October 30, 1924 with the aim of meeting the protection needs of Costa Rican society.

Some of the most renowned statesmen of the period were responsible for its creation including Ricardo Jiménez Oreamuno, President of the Republic on three occasions and Tomás Soley Güell, Secretary of Finance and Commerce, in his third administration.

During the period 1999 and 2002 the insurance broker, PWS International Ltd made 41 corrupt payments totalling $1,982,231 to officials employed by INS and the national electricity and telecommunications provider Instituto Costarricense de Electricidad (ICE).

[1] In December 2011, Aon Corporation, a US insurance brokerage firm headquartered in Chicago, admitted violations of the Foreign Corrupt Practices Act (FCPA) in relation to funds that Aon Corporation had provided to INS officials between 1997 and 2005 for expenses which were not related to a legitimate business purpose, such as travel with spouses to overseas tourist destinations.