It has been two years since Hurricane Maria struck and caused catastrophic damage in Puerto Rico. Since then, many policyholders have been struggling to get the reasonable payment owed under their policy to make repairs, but the number of policyholders with unsettled property claims is still very high.… Continue Reading
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
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
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
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
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
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
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
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
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
On June 12, 2018, the Office of the Commissioner of Insurance of Puerto Rico (OCI) issued Ruling Letter No. CN-2018-241-D, Appraisal Procedures for Insurance Claims for Commercial Property Related to Catastrophic Events.… Continue Reading
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
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
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
Earlier this month, Ashley Harris discussed the Puerto Rico Unfair Claim Adjustment Practices or Actions statute (26 L.P.R.A. § 2716a) in Is the Insurance Company Adjusting Your Claim Fairly in Puerto Rico?… Continue Reading
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
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
