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 to the Insurance Code to Protect Policyholders and Improve Claim Handling Procedures), Puerto Rico’s Insurance Commissioner has established new requirements for the process of filing a complaint against an insurance company when it has delayed, denied, and treated their insured badly.
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 and confirm that they have the coverages provided are correct and appropriate for the type of property or interest being insured. Additionally, the policyholders should have a good understanding of the exclusions provided under their insurance policy, in other words, what is not covered under their policy if they suffer a hurricane loss.
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 confirmar que las coberturas sean las correctas según su propiedad o interés en asegurar. Además, el asegurado debe entender cuáles son las exclusiones bajo su póliza de seguros si sufre daños a causa de un huracán, en otras palabras, lo que no está cubierto bajo su póliza.
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 not been completed.
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 have not paid or continue denying coverage to condominium policyholders in this area.
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 approximately 630 claims – however, many more Hurricane Irma and Maria claims remain unresolved.1
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. Siguiendo múltiples modelos de varias jurisdicciones de los Estados Unidos, los asegurados en Puerto Rico ahora tendrán herramientas adicionales de protección y que facilitarán la resolución de sus reclamaciones, tanto de propiedades residenciales como aquellas que sean comerciales. Recientemente, el Gobernador aprobó enmiendas al Código de Seguros de Puerto Rico para su inmediata aplicación. Dichas enmiendas pretenden solucionar el atraso y aclarar las ambigüedades que han afectado el proceso de recuperación y resolución de reclamaciones de forma justa y adecuada para el consumidor. A continuación, un breve resumen de las enmiendas realizadas al Código de Seguros ahora disponibles para el beneficio de los asegurados en Puerto Rico:
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 commercial policyholders. Several amendments to the Puerto Rico Insurance Code have been approved and signed for immediate application to help solve the delay and ambiguity that has affected the process of recovery. Below is a brief summary of each amended law now available for the benefit of policyholders in Puerto Rico:
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 or claimant arising under an insurance policy or contract shall be by written contract.
Continue Reading