Tag Archives: Puerto Rico

Accord & Satisfaction: Will My Insurance Claim Be Dismissed If I Deposit A Payment?

After Hurricane Maria, many policyholders in Puerto Rico received payments for the damages caused by the hurricane, and due to the need for repairs to their property, they immediately deposited the checks. The problem with depositing these checks was many included the words “final” or “the endorsement of this check constitutes a total and definitive … Continue Reading

How To File A Complaint With The Puerto Rico Insurance Commissioner Office About Your Delaying, Denying And Bad Treating Insurance Company

It is important for policyholders to know and understand the steps they must complete before filing a complaint when an insurance claim has been delayed, denied and bad treated by an insurance company. As mentioned in a previous post, (please see my blog on this topic published on December 5, 2018: Puerto Rico Approves Amendments … Continue Reading

Puerto Rico: Guide To Unfair Settlement Acts By Insurers During The Adjustment Of Claims

Hurricane season 2019 is officially underway, and so now is the time to take action and prepare before a possible hurricane threat. It’s imperative that policyholders understand the coverage and rights provided under their insurance policy. Therefore, one of the first things a policyholder should do is request a copy of their insurance policy now … Continue Reading

Puerto Rico: Guía De Las Prácticas Desleales Por Aseguradoras Durante El Ajuste De Reclamaciones

Ha iniciado la nueva temporada de Huracanes 2019, y son muchos los preparativos que debemos llevar acabo ante la posible amenaza de un huracán. Es imperativo que los asegurados entiendan la cobertura y los derechos bajo su Póliza de Seguros. En primer lugar, cada asegurado debe solicitar una copia de su póliza de seguros y … Continue Reading

Non-Renewal or Cancellations of Commercial Insurance Policies in Puerto Rico after Hurricane Maria

Many Policyholders in Puerto Rico are concerned about the notifications of non-renewal or cancellations they received after Hurricane Maria claims. This is a matter that affects both residential and commercial Policyholders. The process of obtaining insurance coverage from a different insurance company can be even more difficult when repairs related to a prior claim have … Continue Reading

Insurance Recovery for Condominium Policyholders

Condado is a diverse community in San Juan, Puerto Rico, that is 7 miles long but well known by tourists for hotels, restaurants and beaches. For the locals this area it is also known for its numerous condominiums, which were greatly affected in 2017 by Hurricane Maria. To this date, many of the insurance companies … Continue Reading

Puerto Rico Update: Real Legacy Confirms Rumors of Insolvency – What’s Next?

For some time now, people have been keeping a close eye on several of Puerto Rico’s major insurance carriers due to rumors of insolvency. One of those insurance carriers, Real Legacy Assurance, has unfortunately confirmed these rumors and recently filed for liquidation. According to reports, the carrier has paid nearly $40 million dollars to settle … Continue Reading

Puerto Rico Aprueba Enmiendas Al Código de Seguros Para Proteger A Los Asegurados Y Mejorar Los Procedimientos Para Solucionar Reclamaciones

A raíz de la catástrofe causada por los huracanes Irma y María, surgió la necesidad de revisar el proceso de reclamaciones ante las aseguradoras en aras de hacer este uno más eficiente. Es por esto que, el gobierno ha trabajado en métodos que ayudarán a mejorar los procedimientos de manejo de reclamaciones ante las aseguradoras. … Continue Reading

Puerto Rico Approves Amendments to the Insurance Code to Protect Policyholders and Improve Claim Handling Procedures

After the catastrophe caused by Hurricanes Irma and Maria, there was a need for an efficient recovery process. The government has worked on methods to improve the way insurance claims are handled. Following models from multiple jurisdictions in the United States, Puerto Rico will now have available more protections and resolution methods for property and … Continue Reading

Public Adjuster Contracts: Requirements and Limitations in Puerto Rico

Contractual limitations between public adjusters and the insured or claimants in Puerto Rico are established under Puerto Rico’s Insurance Code.1 The Insurance Commissioner’s Office through this regulation states all the definitions, requirements, duties and responsibilities that apply to insurance adjusters. Puerto Rico statutes have also established that services provided by public adjusters to an insured … Continue Reading

Puerto Rico: Sanctions Will Apply for Bad Faith and Delays in Insurance Claims

The 90-day period to resolve claims made for damages caused by Hurricane Maria may expire soon. To protect insureds from the bad faith and delay of the insurer, Puerto Rico’s Insurance Code provides under Art. 27.162, that insurance companies should be diligent in the processing of claims within the 90-day period for claims to be … Continue Reading

Appraisal in Puerto Rico

Insurance carriers and policyholders have historically enjoyed the benefits of the appraisal provision included in most property insurance policies. Appraisal tends to be less expensive, time-consuming, and formal compared to traditional litigation. Unfortunately, appraisal is not an option for policyholders in Puerto Rico.… Continue Reading

El Ajuste De Reclamaciones Por Daños Causado Por Huracán María: Lo Que Todos Los Asegurados De Puerto Rico Deben Saber

Para los millones de asegurados en Puerto Rico que sufrieron daños a su propiedad por Huracán María, estos momentos han sido uno de los más difíciles que han pasado en tiempos recientes. Para muchos de ustedes con póliza de seguro de daños a sus hogares, desgraciadamente será un proceso de mucho estresante, arduo y largo. … Continue Reading

Is the Insurance Company Adjusting Your Claim Fairly in Puerto Rico?

Too many in Puerto Rico are still dealing with the catastrophic effects of Hurricane Maria. Today the focus is on getting basic supplies like drinking water to nearly half the population. An insurance claim is likely not a priority at this moment for those owning homes or businesses in Puerto Rico. However, insurance companies must … Continue Reading
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