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https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-10/1013a/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 10 - Unauthorized Insurers (§§ 1001 — 1020)›§ 1013a - Failure to pay tax | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 10 - Unauthorized Insurers (§§ 1001 — 1020) › § 1013a - Failure to pay tax | (1) Any surplus line broker who fails to file his report on the surplus line coverage and fails to pay the specified tax within the term established in § 1013 of this title shall be punished by an administrative fine of twenty-five dollars ($25) for each day in arrears, subject to the right of the Commissioner to grant... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-10/1014/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 10 - Unauthorized Insurers (§§ 1001 — 1020)›§ 1014 - General duties of broker | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 10 - Unauthorized Insurers (§§ 1001 — 1020) › § 1014 - General duties of broker | In connection with the transaction of surplus line insurance, the broker shall:
(1) Ascertain the insuring powers and financial condition of the insurer, and place such coverage only in an insurer empowered to issue the kind of insurance applied for and having a surplus as to policyholders in amount of at least three h... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-10/1015/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 10 - Unauthorized Insurers (§§ 1001 — 1020)›§ 1015 - Broker’s liability to the insured | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 10 - Unauthorized Insurers (§§ 1001 — 1020) › § 1015 - Broker’s liability to the insured | If the insured under any surplus line policy suffers loss or damage on account of the broker’s failure to comply with any requirement of this chapter, then the broker shall be liable to the insured for such loss or damage.
History —Ins. Code § 10.150. |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-10/1016/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 10 - Unauthorized Insurers (§§ 1001 — 1020)›§ 1016 - Revocation of broker’s license | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 10 - Unauthorized Insurers (§§ 1001 — 1020) › § 1016 - Revocation of broker’s license | (1) The Commissioner may revoke any surplus line broker’s license:
(a) If the broker fails to file report of coverage and to pay the tax as required by this chapter.
(b) If the broker fails to keep the records and allow inspection thereof by the Commissioner as required by this chapter.
(c) For any other violation of t... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-10/1017/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 10 - Unauthorized Insurers (§§ 1001 — 1020)›§ 1017 - Records of insurers | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 10 - Unauthorized Insurers (§§ 1001 — 1020) › § 1017 - Records of insurers | Upon the Commissioner’s order, any person in Puerto Rico who is the insured under any policy issued by an unauthorized insurer upon a subject of insurance resident, located, or to be performed in Puerto Rico at the time the policy was issued, shall produce for examination all policies and other documents evidencing and... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-10/1018/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 10 - Unauthorized Insurers (§§ 1001 — 1020)›§ 1018 - Legal process against surplus line insurer | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 10 - Unauthorized Insurers (§§ 1001 — 1020) › § 1018 - Legal process against surplus line insurer | (1) In any action brought in Puerto Rico under an insurance contract issued as a surplus line pursuant to this chapter, duplicate copies of legal process against the insurer shall be served upon the Commissioner. The Commissioner shall forthwith mail one copy of the process so served to the person designated by the ins... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-10/1020/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 10 - Unauthorized Insurers (§§ 1001 — 1020)›§ 1020 - Insurance transacted with unauthorized insurers | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 10 - Unauthorized Insurers (§§ 1001 — 1020) › § 1020 - Insurance transacted with unauthorized insurers | (1) Any insured, residing in Puerto Rico, who transacts or causes to transact an insurance relative to a subject of insurance, residing, located or to be performed in Puerto Rico with an unauthorized insurer, except unauthorized insurers eligible pursuant to § 1007a of this title, must, within 30 days after having tran... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-11/1101/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 11 - The Insurance Contract (§§ 1101 — 1137)›§ 1101 - Scope of chapter | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 11 - The Insurance Contract (§§ 1101 — 1137) › § 1101 - Scope of chapter | (1) The applicable provisions of this chapter shall apply to insurances other than ocean marine and foreign trade insurances as defined in subsection (2), and other than insurance contracts not covering subjects of insurance resident, located, or to be performed in Puerto Rico, issued for delivery and delivered outside... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-11/1102/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 11 - The Insurance Contract (§§ 1101 — 1137)›§ 1102 - Insurable subjects | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 11 - The Insurance Contract (§§ 1101 — 1137) › § 1102 - Insurable subjects | Subject to the provisions of this title, a contract of insurance may be made with respect to any subject and the hazards therein stated, as to which the possibility of damnification or an insurable interest exists, except that:
(1) No person shall be insured against the penal consequences of an offense; but this provis... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-11/1103/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 11 - The Insurance Contract (§§ 1101 — 1137)›§ 1103 - Power to contract; minors | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 11 - The Insurance Contract (§§ 1101 — 1137) › § 1103 - Power to contract; minors | (1) Any person of competent legal capacity may contract for insurance.
(2) A minor after reaching fifteen years of age shall have legal capacity to negotiate, contract, trade, receive, and exercise all contractual rights and privileges in relation to:
(a) Life or disability insurance on his own life or body.
(b) Life o... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-11/1104/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 11 - The Insurance Contract (§§ 1101 — 1137)›§ 1104 - Insurable interest—Personal insurance | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 11 - The Insurance Contract (§§ 1101 — 1137) › § 1104 - Insurable interest—Personal insurance | (1) An individual of competent legal capacity may procure or effect an insurance contract upon his own life or body for the benefit of another person. But no person shall procure or cause to be procured any insurance contract upon the life or body of another individual unless the benefits under such contract are payabl... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-11/1105/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 11 - The Insurance Contract (§§ 1101 — 1137)›§ 1105 - Insurable interest—Property and interests | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 11 - The Insurance Contract (§§ 1101 — 1137) › § 1105 - Insurable interest—Property and interests | (1) No insurance contract on property or of any interest therein or arising therefrom shall be legally enforceable as to the insurance except for the benefit of persons having an insurable interest in the things insured.
(2) Insurable interest.— As used in this section means any actual lawful, and substantial economic ... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-11/1106/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 11 - The Insurance Contract (§§ 1101 — 1137)›§ 1106 - Interest of the insured | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 11 - The Insurance Contract (§§ 1101 — 1137) › § 1106 - Interest of the insured | When the name of a person intended to be insured is specified in the policy, such insurance can be applied only to the extent of his own proper interest. This section shall not apply to life, disability, and title insurances.
History —Ins. Code § 11.060. |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-11/1107/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 11 - The Insurance Contract (§§ 1101 — 1137)›§ 1107 - Application required for insurance | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 11 - The Insurance Contract (§§ 1101 — 1137) › § 1107 - Application required for insurance | (1) No life or disability insurance contract upon any person, except a policy of group life insurance or of group or blanket disability insurance, as defined in this title, shall be made or effectuated unless at the time of making the contract the insured, being of competent legal capacity to contract, applies therefor... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-11/1108/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 11 - The Insurance Contract (§§ 1101 — 1137)›§ 1108 - Alteration of application | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 11 - The Insurance Contract (§§ 1101 — 1137) › § 1108 - Alteration of application | (1) No person shall falsify or cause to be falsified, in any application for insurance, any answer to a question propounded to the applicant therein, or insert or cause to be inserted therein, except as provided in subsection (2) of this section, any statement to be made by such applicant other than the statement made ... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-11/1109/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 11 - The Insurance Contract (§§ 1101 — 1137)›§ 1109 - Application as evidence | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 11 - The Insurance Contract (§§ 1101 — 1137) › § 1109 - Application as evidence | (1) Any application for insurance shall be made a part of the policy. No insurance policy application shall be admissible as evidence in any suit or procedure related to said policy, unless a true and exact copy of the application is attached to the policy or otherwise made a part thereof at the time it is issued and d... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-11/1110/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 11 - The Insurance Contract (§§ 1101 — 1137)›§ 1110 - Representations in applications | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 11 - The Insurance Contract (§§ 1101 — 1137) › § 1110 - Representations in applications | All statements and descriptions in any application for an insurance policy or in negotiations therefor, by or in behalf of the insured, shall be deemed to be representations and not warranties. Misrepresentations, omissions, concealment of acts, and incorrect statements shall not prevent a recovery under the policy unl... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-11/1111/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 11 - The Insurance Contract (§§ 1101 — 1137)›§ 1111 - Approval of forms | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 11 - The Insurance Contract (§§ 1101 — 1137) › § 1111 - Approval of forms | (1) No person shall issue, deliver or use any basic insurance policy form or application form where a written application is required or printed rider or endorsement form, unless previously filed before and approved by the Commissioner. In order to achieve the greatest uniformity possible in the approval of policy form... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-11/1112/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 11 - The Insurance Contract (§§ 1101 — 1137)›§ 1112 - Ground for disapproval of forms | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 11 - The Insurance Contract (§§ 1101 — 1137) › § 1112 - Ground for disapproval of forms | The Commissioner shall disapprove a form of policy, application, rider or endorsement, or shall withdraw his approval thereof, only:
(1) If it is in any respect in violation of or does not comply with this title.
(2) If it is inconsistent with any applicable filing theretofore made and approved.
(3) If it contains or i... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-11/1113/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 11 - The Insurance Contract (§§ 1101 — 1137)›§ 1113 - Standard provisions in general | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 11 - The Insurance Contract (§§ 1101 — 1137) › § 1113 - Standard provisions in general | (1) Policies shall contain such standard provisions as are required by the applicable provisions, if any, of this title pertaining to contracts of particular kinds of insurance. The Commissioner may waive the required use of a particular standard provision in a particular insurance policy form if:
(a) He finds such pro... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-11/1114/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 11 - The Insurance Contract (§§ 1101 — 1137)›§ 1114 - Content of policies in general | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 11 - The Insurance Contract (§§ 1101 — 1137) › § 1114 - Content of policies in general | (1) The written instrument in which a contract of insurance is set forth is the policy.
(2) Every policy to be effective in Puerto Rico shall be offered in the Spanish language and shall be issued in the English language at the option of the proposed insured. In the interpretation of said policies, the text that is of ... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-11/1115/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 11 - The Insurance Contract (§§ 1101 — 1137)›§ 1115 - Additional contents | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 11 - The Insurance Contract (§§ 1101 — 1137) › § 1115 - Additional contents | (1) A policy may contain additional provisions which are not inconsistent with this title and which are:
(a) Required by the laws of the insurer’s domicile, or
(b) appropriate, on account of the manner in which the insurer is constituted or operated, to state the rights and obligations of the parties to the contract.
(... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-11/1116/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 11 - The Insurance Contract (§§ 1101 — 1137)›§ 1116 - Charter, bylaw provisions | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 11 - The Insurance Contract (§§ 1101 — 1137) › § 1116 - Charter, bylaw provisions | No policy shall contain any provision purporting to make any portion of the charter, bylaws, or other constituent document or rules of the insurer a part of the contract unless such portion is set forth in full in the policy. Any policy provision in violation of this section shall be invalid.
History —Ins. Code § 11.16... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-11/1117/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 11 - The Insurance Contract (§§ 1101 — 1137)›§ 1117 - Stated premium to include all charges | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 11 - The Insurance Contract (§§ 1101 — 1137) › § 1117 - Stated premium to include all charges | (1) The premium stated in the policy shall be inclusive of all fees, charges, premiums, or other consideration charged for the insurance and for the procurement thereof, except that, in any subsequent modification of the policy, the insurer may require that evidence of insurability be furnished at the insurer’s expense... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-11/1118/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 11 - The Insurance Contract (§§ 1101 — 1137)›§ 1118 - Policy must contain entire contract; exception | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 11 - The Insurance Contract (§§ 1101 — 1137) › § 1118 - Policy must contain entire contract; exception | (1) No agreement in conflict with, or modifying or extending, any contract of insurance shall be valid unless in writing and made a part of the policy.
(2) No insurer or its representative shall make any insurance contract or agreement relative thereto other than as is expressed in the policy.
(3) The requirements of t... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-11/1119/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 11 - The Insurance Contract (§§ 1101 — 1137)›§ 1119 - Limiting actions on policies; jurisdiction | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 11 - The Insurance Contract (§§ 1101 — 1137) › § 1119 - Limiting actions on policies; jurisdiction | (1) No policy delivered or issued for delivery in Puerto Rico and covering a subject of insurance resident, located, or to be performed in Puerto Rico, shall contain any condition, stipulation, or agreement:
(a) Depriving the insured of right of access to the courts for determination of his rights under the policy in e... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-11/1120/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 11 - The Insurance Contract (§§ 1101 — 1137)›§ 1120 - Execution of policies | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 11 - The Insurance Contract (§§ 1101 — 1137) › § 1120 - Execution of policies | (1) Every policy shall be executed in the name and on behalf of the insurer by its officer, attorney-in-fact, employee, or representative duly authorized by the insurer.
(2) A facsimile signature of any such individual may be used in lieu of an original signature.
(3) No policy heretofore or hereafter issued and which ... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-11/1121/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 11 - The Insurance Contract (§§ 1101 — 1137)›§ 1121 - Binders; duration; agent’s liability | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 11 - The Insurance Contract (§§ 1101 — 1137) › § 1121 - Binders; duration; agent’s liability | (1) A “binder” is used to bind insurance temporarily pending the issuance of the policy. It may be oral or in writing. No binder shall be valid after the agreed date on it beyond the issuance of the policy for which it was given, or beyond such reasonable period as shall be established by rules and regulations promulga... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-11/1122/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 11 - The Insurance Contract (§§ 1101 — 1137)›§ 1122 - Underwriters’ and combination policies | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 11 - The Insurance Contract (§§ 1101 — 1137) › § 1122 - Underwriters’ and combination policies | (1) Two or more authorized insurers may jointly issue, and shall be jointly and severally liable on, an underwriters’ policy bearing their names. Any one insurer may issue policies in the name of an underwriter’s department and such policies shall plainly show the true name of the insurer.
(2) Two or more authorized in... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-11/1123/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 11 - The Insurance Contract (§§ 1101 — 1137)›§ 1123 - Delivery of policy | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 11 - The Insurance Contract (§§ 1101 — 1137) › § 1123 - Delivery of policy | (1) Subject to the insurer’s requirements as to payment of premium, every policy shall be mailed or delivered to the insured or to the person entitled thereto within a reasonable period of time from the date in which the insured applied for its issuance.
When the insurer fails to take action for a reasonable period of ... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-11/1124/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 11 - The Insurance Contract (§§ 1101 — 1137)›§ 1124 - Validity of noncomplying forms | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 11 - The Insurance Contract (§§ 1101 — 1137) › § 1124 - Validity of noncomplying forms | (1) Any insurance policy, rider, or endorsement issued after the effective date of this Code and otherwise valid, which contains any condition or provision not in compliance with the requirements of this title, shall not be rendered invalid thereby, but shall be construed and applied in accordance with such conditions ... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-11/1125/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 11 - The Insurance Contract (§§ 1101 — 1137)›§ 1125 - Construction of policies | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 11 - The Insurance Contract (§§ 1101 — 1137) › § 1125 - Construction of policies | Every insurance contract shall be construed according to the entirety of its terms and conditions as set forth in the policy, and as amplified, extended, or modified by any lawful rider, endorsement, or application attached to and made a part of the policy.
—Ins. Code § 11.250.
History |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-11/1126/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 11 - The Insurance Contract (§§ 1101 — 1137)›§ 1126 - Renewal of policy | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 11 - The Insurance Contract (§§ 1101 — 1137) › § 1126 - Renewal of policy | Any insurance policy terminating by its terms at a specified expiration date and not otherwise renewable, may be renewed or extended at the option of the insurer, upon a currently authorized policy form and at the premium rate then required therefor, for a specific additional period or periods by a certificate or by en... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-11/1127/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 11 - The Insurance Contract (§§ 1101 — 1137)›§ 1127 - Limitation of cancellation by insurer | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 11 - The Insurance Contract (§§ 1101 — 1137) › § 1127 - Limitation of cancellation by insurer | (1) The insurer may not cancel an insurance contract after it has been in force for a period of sixty (60) days or more, except for default in premium payment and for the reasons specified in the policy. Provided, That the insured may request the cancellation of the insurance contract according to the terms specified i... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-11/1128/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 11 - The Insurance Contract (§§ 1101 — 1137)›§ 1128 - Assignment of policies | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 11 - The Insurance Contract (§§ 1101 — 1137) › § 1128 - Assignment of policies | (1) A policy may be assignable or not assignable, as provided by its terms.
(2) Subject to the terms of the policy relating to its assignability, whether such policies were heretofore or are hereafter assigned, any policy issued by a life or disability insurer under the terms of which the beneficiary may be changed upo... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-11/1130/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 11 - The Insurance Contract (§§ 1101 — 1137)›§ 1130 - Payment discharges insurer | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 11 - The Insurance Contract (§§ 1101 — 1137) › § 1130 - Payment discharges insurer | (1) Whenever the proceeds of, or payments under, a policy or contract heretofore or hereafter issued by a life or disability insurer, become payable in accordance with the terms of such policy or contract, or through the exercise of any right or privilege thereunder, and the insurer makes payment thereof in accordance ... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-11/1130a/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 11 - The Insurance Contract (§§ 1101 — 1137)›§ 1130a - Simultaneous deaths | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 11 - The Insurance Contract (§§ 1101 — 1137) › § 1130a - Simultaneous deaths | When the insured and the beneficiary or beneficiaries in a life insurance or disability policy die and there is no evidence as to who died before, the policy shall be paid according to its terms as if the beneficiary or beneficiaries had died before the insured. No rule of evidence regarding simultaneous deaths shall a... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-11/1131/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 11 - The Insurance Contract (§§ 1101 — 1137)›§ 1131 - Minor may give acquittance | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 11 - The Insurance Contract (§§ 1101 — 1137) › § 1131 - Minor may give acquittance | Any minor domiciled in Puerto Rico who has attained age eighteen, shall be deemed competent to receive and to give full acquittance and discharge for a payment or payments in aggregate amount not exceeding two thousand dollars ($2,000) in any one year, made by a life insurer as benefits payable to such minor in complia... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-11/1132/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 11 - The Insurance Contract (§§ 1101 — 1137)›§ 1132 - Exemption of proceeds—Disability policies | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 11 - The Insurance Contract (§§ 1101 — 1137) › § 1132 - Exemption of proceeds—Disability policies | (1) The proceeds and avails of disability insurance policies and of provisions providing benefits for disability which are supplemental to life insurance or annuity contracts, whether heretofore or hereafter effected, shall be exempt from all liability and legal process for any debt of the insured, and for any debt of ... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-11/1133/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 11 - The Insurance Contract (§§ 1101 — 1137)›§ 1133 - Exemption of proceeds—Life policies | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 11 - The Insurance Contract (§§ 1101 — 1137) › § 1133 - Exemption of proceeds—Life policies | (1) The lawful beneficiary, assignee, or payee of a life insurance policy (other than an annuity contract), heretofore or hereafter effected by any person on his own life, or on the life of another, in favor of a person other than himself, shall be entitled to the proceeds and avails of the policy against the creditors... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-11/1134/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 11 - The Insurance Contract (§§ 1101 — 1137)›§ 1134 - Exemption of proceeds—Group life | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 11 - The Insurance Contract (§§ 1101 — 1137) › § 1134 - Exemption of proceeds—Group life | (1) A policy of group life insurance or the proceeds thereof payable to the insured or to a named beneficiary other than the insured, or under a facility-of-payment clause, shall be free of claims from the creditors of the insured or of the beneficiary or of any other payee.
(2) This section shall not apply to group li... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-11/1135/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 11 - The Insurance Contract (§§ 1101 — 1137)›§ 1135 - Exemption of proceeds—Commutation; annuities | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 11 - The Insurance Contract (§§ 1101 — 1137) › § 1135 - Exemption of proceeds—Commutation; annuities | (1) The benefits, rights, privileges and options which the annuitant may have under any annuity contract shall be free of claims from his/her creditors, and the creditors shall not be allowed to interfere with or terminate the contract except:
(a) As to amounts paid for or as premium on any such annuity with intent to ... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-11/1136/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 11 - The Insurance Contract (§§ 1101 — 1137)›§ 1136 - Forms for proof of loss to be furnished | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 11 - The Insurance Contract (§§ 1101 — 1137) › § 1136 - Forms for proof of loss to be furnished | An insurer shall furnish upon written request of any person claiming to have a loss under any insurance contract, forms of proof of loss for completion by such person, but such insurer shall not, by reason of this requirement or the furnishing of such forms, have any responsibility or liability for or with reference to... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-11/1137/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 11 - The Insurance Contract (§§ 1101 — 1137)›§ 1137 - Claim administration not waiver | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 11 - The Insurance Contract (§§ 1101 — 1137) › § 1137 - Claim administration not waiver | Without limitation of any right or defense of an insurer otherwise, none of the following acts by or on behalf of an insurer shall be deemed to constitute a waiver of any provision of a policy or of any defense of the insurer thereunder:
(1) Acknowledgement of the receipt of notice of loss or claim under the policy.
(2... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-12/1201/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 12 - Rates and Rating Organizations (§§ 1201 — 1240)›§ 1201 - Purpose | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 12 - Rates and Rating Organizations (§§ 1201 — 1240) › § 1201 - Purpose | The purpose of this chapter is to promote the public welfare by regulating insurance rates to the end that they shall not be excessive, inadequate, or unfairly discriminatory, and to authorize and regulate cooperative action among insurers in rate making and in other matters within the scope of this chapter. Nothing in... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-12/1202/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 12 - Rates and Rating Organizations (§§ 1201 — 1240)›§ 1202 - Scope of chapter | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 12 - Rates and Rating Organizations (§§ 1201 — 1240) › § 1202 - Scope of chapter | (1) Except as is otherwise expressly provided, the provisions of this chapter apply to all insurances upon subjects located, resident, or to be performed in Puerto Rico, except:
(a) Life insurance and annuity contracts.
(b) Disability insurance.
(c) Reinsurance, except as to joint insurance as provided in § 1234 of thi... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-12/1203/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 12 - Rates and Rating Organizations (§§ 1201 — 1240)›§ 1203 - Definitions | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 12 - Rates and Rating Organizations (§§ 1201 — 1240) › § 1203 - Definitions | As used in this chapter:
(1) Rate.— Includes as the context may require, either the consideration to be paid or charged for insurance contracts, including also fidelity and surety bonds, or the elements and factors forming the basis for the determination or application of the same, or both.
(2) Rate filings.— Means the... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-12/1204/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 12 - Rates and Rating Organizations (§§ 1201 — 1240)›§ 1204 - Rate making bases | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 12 - Rates and Rating Organizations (§§ 1201 — 1240) › § 1204 - Rate making bases | (1) Rates shall be made in accordance with the following provisions:
(a) Basic classification, manual, minimum, class rates, rating schedules or rating plans shall be made and adopted, except as to specific rates on inland marine risks individually rated, which risks are not reasonably susceptible to manual or schedule... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-12/1205/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 12 - Rates and Rating Organizations (§§ 1201 — 1240)›§ 1205 - Filing requirements | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 12 - Rates and Rating Organizations (§§ 1201 — 1240) › § 1205 - Filing requirements | (1) Except as provided in § 1209 of this title, every rating organization and every authorized insurer shall file with the Commissioner, before using them in Puerto Rico, every rate manual, schedule of rates, classification of risk, rating plan, multiple-line program as defined by regulations, and every other rating ru... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-12/1206/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 12 - Rates and Rating Organizations (§§ 1201 — 1240)›§ 1206 - Effective date of filing; review, disapproval | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 12 - Rates and Rating Organizations (§§ 1201 — 1240) › § 1206 - Effective date of filing; review, disapproval | (1) The Commissioner shall review a filing as soon as reasonably possible after made, to determine whether it meets the requirements of this chapter.
(2) Except as provided in § 1207 of this title:
(a) No such filing shall become effective within thirty days after date of filing with the Commissioner, which period may ... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-12/1207/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 12 - Rates and Rating Organizations (§§ 1201 — 1240)›§ 1207 - Special filings | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 12 - Rates and Rating Organizations (§§ 1201 — 1240) › § 1207 - Special filings | The following special filings, when not covered by a previous filing, shall become effective when filed and shall be deemed to meet the requirements of this chapter until such time as the Commissioner reviews the filing and for so long thereafter as the filing remains in effect:
(1) Special filings with respect to fide... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-12/1208/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 12 - Rates and Rating Organizations (§§ 1201 — 1240)›§ 1208 - Waiver of filing | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 12 - Rates and Rating Organizations (§§ 1201 — 1240) › § 1208 - Waiver of filing | The Commissioner may suspend or modify the filing requirement either according to the rules and regulations he/she adopts, or by order, with regard to any type of insurance, subdivision or combination thereof, or with regard to the types of risk for which the rates cannot be practicably filed before they are used, or r... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-12/1209/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 12 - Rates and Rating Organizations (§§ 1201 — 1240)›§ 1209 - Excess rates | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 12 - Rates and Rating Organizations (§§ 1201 — 1240) › § 1209 - Excess rates | Upon written application by the insurer, stating the reasons therefor, filed with and approved by the Commissioner, a rate in excess of that provided by a filing otherwise applicable may be used on any specific risk.
Every insurer who decides to use on any specific risk a rate in excess of that provided by a filing whi... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-12/1210/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 12 - Rates and Rating Organizations (§§ 1201 — 1240)›§ 1210 - Disapproval of filing | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 12 - Rates and Rating Organizations (§§ 1201 — 1240) › § 1210 - Disapproval of filing | If within the waiting period or any extension thereof, as provided in § 1206 of this title, the Commissioner finds that a filing does not meet the requirements of this chapter, he shall disapprove such filing, and shall give written notice of such disapproval, specifying the respects in which he finds the filing fails ... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-12/1211/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 12 - Rates and Rating Organizations (§§ 1201 — 1240)›§ 1211 - Disapproval of special filing | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 12 - Rates and Rating Organizations (§§ 1201 — 1240) › § 1211 - Disapproval of special filing | (1) If within thirty days after a special filing subject to § 1207 of this title has become effective the Commissioner finds that the filing does not meet the requirements of this chapter, he shall disapprove the filing and shall give notice to the insurer or rating organization which made the filing, specifying in wha... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-12/1212/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 12 - Rates and Rating Organizations (§§ 1201 — 1240)›§ 1212 - Subsequent disapproval | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 12 - Rates and Rating Organizations (§§ 1201 — 1240) › § 1212 - Subsequent disapproval | (1) At any time subsequent to the applicable review period provided in § 1206 or 1207 of this title, the Commissioner may order a hearing to determine whether or not a filing meets the requirements of this chapter. At least ten days’ written notice of such hearing shall be given to every insurer and rating organization... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-12/1213/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 12 - Rates and Rating Organizations (§§ 1201 — 1240)›§ 1213 - Compliance with filings required | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 12 - Rates and Rating Organizations (§§ 1201 — 1240) › § 1213 - Compliance with filings required | (1) No member of, or subscriber to any rating organization, and no insurer which makes and files its own rates, shall charge or receive any rate which deviates from the rates, rating plans, classifications, schedules, rules, standards and multiple-line programs, as defined by regulations, made and filed by such rating ... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-12/1214/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 12 - Rates and Rating Organizations (§§ 1201 — 1240)›§ 1214 - Deviations | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 12 - Rates and Rating Organizations (§§ 1201 — 1240) › § 1214 - Deviations | Every subscribing member of a rating organization shall adhere to the filings made on his behalf by such organization, except that any such insurer may make written application to the Commissioner for permission to file a uniform percentage deviation to be applied to the premiums produced by the rating system filed by ... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-12/1215/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 12 - Rates and Rating Organizations (§§ 1201 — 1240)›§ 1215 - Statistical reports required | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 12 - Rates and Rating Organizations (§§ 1201 — 1240) › § 1215 - Statistical reports required | (1) Every authorized insurer shall annually file with the rating organization of which it is a member or subscriber, or with such other agency as the Commissioner may approve, a statistical report showing a classification schedule of its premiums and losses on all kinds or types of insurance business to which this sect... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-12/1216/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 12 - Rates and Rating Organizations (§§ 1201 — 1240)›§ 1216 - Uniform classification of accounts | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 12 - Rates and Rating Organizations (§§ 1201 — 1240) › § 1216 - Uniform classification of accounts | The Commissioner may, in his discretion, prescribe by regulation, uniform classifications of accounts to be observed, and statistics to be reported by insurers and other organizations which are subject to the provisions of this chapter. He may also in his discretion prescribe by regulation, forms of reporting such data... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-12/1217/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 12 - Rates and Rating Organizations (§§ 1201 — 1240)›§ 1217 - Exchange of experience | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 12 - Rates and Rating Organizations (§§ 1201 — 1240) › § 1217 - Exchange of experience | To further uniform administration of rate regulatory laws, the Commissioner and every insurer and rating organization may exchange information and experience data with insurance supervisory officials, insurers, and rating organizations in the United States and may consult and cooperate with them with respect to rate ma... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-12/1218/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 12 - Rates and Rating Organizations (§§ 1201 — 1240)›§ 1218 - Cooperation in rate making | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 12 - Rates and Rating Organizations (§§ 1201 — 1240) › § 1218 - Cooperation in rate making | (1) Cooperation among rating organizations or among rating organizations and insurers in rate making or in other matters within the scope of this chapter is hereby authorized, provided the filings resulting from such cooperation are subject to all the provisions of this chapter which are applicable to filings generally... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-12/1219/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 12 - Rates and Rating Organizations (§§ 1201 — 1240)›§ 1219 - Withholding information; false information | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 12 - Rates and Rating Organizations (§§ 1201 — 1240) › § 1219 - Withholding information; false information | No person shall willfully withhold information from, or give false or misleading information to, any rating organization or any insurer or the Commissioner or any agency designated by the Commissioner, which will in any way affect the rate or premium chargeable to any insured or group of insureds.
History —Ins. Code § ... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-12/1220/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 12 - Rates and Rating Organizations (§§ 1201 — 1240)›§ 1220 - Assigned risks | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 12 - Rates and Rating Organizations (§§ 1201 — 1240) › § 1220 - Assigned risks | Agreements may be made among vehicle or casualty insurers with respect to the equitable apportionment among them of insurance which may be afforded applicants who are in good faith entitled to but who are unable to procure such insurance through ordinary methods, and such insurers may agree among themselves on the use ... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-12/1221/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 12 - Rates and Rating Organizations (§§ 1201 — 1240)›§ 1221 - Fee setting organisms, licenses | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 12 - Rates and Rating Organizations (§§ 1201 — 1240) › § 1221 - Fee setting organisms, licenses | (1) No rating organization shall do business in Puerto Rico or make filings with the Commissioner unless it holds a license from the Commissioner as a rating organization.
(2) A corporation, or a board, bureau, or other unincorporated association, a partnership, or an individual, shall be eligible to qualify as a ratin... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-12/1222/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 12 - Rates and Rating Organizations (§§ 1201 — 1240)›§ 1222 - Suspension, revocation of license | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 12 - Rates and Rating Organizations (§§ 1201 — 1240) › § 1222 - Suspension, revocation of license | (1) The Commissioner may suspend or revoke the license of a rating organization if he finds that the license[e] no longer meets the qualifications for the license, or that it has failed to comply with an order of the Commissioner within the time specified by such order or any extension of time which the Commissioner ma... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-12/1223/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 12 - Rates and Rating Organizations (§§ 1201 — 1240)›§ 1223 - Changes in rating organizations, notice | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 12 - Rates and Rating Organizations (§§ 1201 — 1240) › § 1223 - Changes in rating organizations, notice | Every rating organization shall notify the Commissioner promptly of every change in:
(1) Its constitution, articles of agreement or association, or certificate of incorporation, and its bylaws, rules and regulations governing the conduct of its business;
(2) its list of members and subscribers, and
(3) the name and add... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-12/1224/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 12 - Rates and Rating Organizations (§§ 1201 — 1240)›§ 1224 - Liability of officers of unincorporated rating organizations | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 12 - Rates and Rating Organizations (§§ 1201 — 1240) › § 1224 - Liability of officers of unincorporated rating organizations | The officers, members of the executive or other governing committee, and other persons in control of an unincorporated association, for the time being, and each partner of a partnership, shall be held individually liable for knowingly violating any provision of this chapter applicable to such association or partnership... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-12/1225/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 12 - Rates and Rating Organizations (§§ 1201 — 1240)›§ 1225 - Discrimination; admission of subscribers; rules and regulations of rating ... | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 12 - Rates and Rating Organizations (§§ 1201 — 1240) › § 1225 - Discrimination; admission of subscribers; rules and regulations of rating organization | (1) Each rating organization shall furnish its rating services without discrimination to all of its members and subscribers, and shall, subject to reasonable rules and regulations, permit any authorized insurer, not admitted to membership, to become a subscriber to its rating services for any kind of insurance, subdivi... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-12/1226/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 12 - Rates and Rating Organizations (§§ 1201 — 1240)›§ 1226 - May not prohibit or regulate dividends | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 12 - Rates and Rating Organizations (§§ 1201 — 1240) › § 1226 - May not prohibit or regulate dividends | No rating organization shall adopt any rule the effect of which would be to prohibit or regulate the payment of dividends, savings or unabsorbed premium deposits allowed or returned by insurers to their policyholders, members, or subscribers.
History —Ins. Code § 12.260. |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-12/1227/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 12 - Rates and Rating Organizations (§§ 1201 — 1240)›§ 1227 - Technical services | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 12 - Rates and Rating Organizations (§§ 1201 — 1240) › § 1227 - Technical services | Any rating organization may subscribe for or purchase actuarial, technical or other services, and such services shall be available to all members and subscribers without discrimination.
History —Ins. Code § 12.270. |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-12/1228/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 12 - Rates and Rating Organizations (§§ 1201 — 1240)›§ 1228 - Information to insureds | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 12 - Rates and Rating Organizations (§§ 1201 — 1240) › § 1228 - Information to insureds | Every rating organization and every insurer which makes and files its own rates shall furnish upon demand and upon payment of such reasonable charges as the rating organization or insurer may require, to any person upon whose property or risk a rate applicable thereto has been made by it, or to the authorized represent... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-12/1229/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 12 - Rates and Rating Organizations (§§ 1201 — 1240)›§ 1229 - Protection of producers | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 12 - Rates and Rating Organizations (§§ 1201 — 1240) › § 1229 - Protection of producers | No rating organization shall directly or indirectly require the payment of any licensing, registration or membership fee by any producer, as such, who is licensed pursuant to this title; nor shall any such rating organization refuse to do business with, or prohibit or prevent the payment of reasonable commissions to an... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-12/1230/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 12 - Rates and Rating Organizations (§§ 1201 — 1240)›§ 1230 - Appeal from rating organization | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 12 - Rates and Rating Organizations (§§ 1201 — 1240) › § 1230 - Appeal from rating organization | (1) Any member of or subscriber to a rating organization may appeal to the Commissioner from any action or decision of the rating organization in approving or rejecting any proposed change in or addition to the filings of such rating organization. Upon receipt of an application for such an appeal, the Commissioner shal... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-12/1231/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 12 - Rates and Rating Organizations (§§ 1201 — 1240)›§ 1231 - Complaints of insureds—Hearing | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 12 - Rates and Rating Organizations (§§ 1201 — 1240) › § 1231 - Complaints of insureds—Hearing | (1) Each rating organization and each insurer which makes and files its own rates shall provide such means as may be approved by the Commissioner whereby any person or persons affected by a rate made by it may be heard in person or by his authorized representative before the governing or rating committee or other prope... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-12/1233/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 12 - Rates and Rating Organizations (§§ 1201 — 1240)›§ 1233 - Examination of rating organizations | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 12 - Rates and Rating Organizations (§§ 1201 — 1240) › § 1233 - Examination of rating organizations | (1) The Commissioner shall, at least once in five years, make or cause to be made an examination of each rating organization licensed in Puerto Rico, and he may, as often as he deems it expedient, make or cause to be made an examination of each advisory organization referred to in § 1235 of this title, and of each grou... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-12/1234/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 12 - Rates and Rating Organizations (§§ 1201 — 1240)›§ 1234 - Joint underwriting or joint reinsurance | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 12 - Rates and Rating Organizations (§§ 1201 — 1240) › § 1234 - Joint underwriting or joint reinsurance | (1) Every group, association or other organization of insurers which engages in joint underwriting or joint reinsurance, shall be subject to regulation with respect thereto as is provided in this section, subject however, with respect to joint underwriting, to all other provisions of this chapter, and, with respect to ... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-12/1235/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 12 - Rates and Rating Organizations (§§ 1201 — 1240)›§ 1235 - Advisory organisms—Authorization | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 12 - Rates and Rating Organizations (§§ 1201 — 1240) › § 1235 - Advisory organisms—Authorization | (1) Every advisory organization, before serving as such to any rating organization or independently filing insurer doing business in Puerto Rico, shall secure a certificate of authorization therefor from the Commissioner. Before issuance of such certificate, the advisory organization shall file with the Commissioner:
(... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-12/1236/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 12 - Rates and Rating Organizations (§§ 1201 — 1240)›§ 1236 - Advisory organizations—Unfair activities | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 12 - Rates and Rating Organizations (§§ 1201 — 1240) › § 1236 - Advisory organizations—Unfair activities | If, after a hearing, the Commissioner finds that the furnishing of information or assistance by an advisory organization involves any act or practice which is unfair or unreasonable or otherwise inconsistent with the provisions of this chapter, he may issue a written order specifying in what respects such act or practi... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-12/1237/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 12 - Rates and Rating Organizations (§§ 1201 — 1240)›§ 1237 - Advisory organisms—Disqualification | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 12 - Rates and Rating Organizations (§§ 1201 — 1240) › § 1237 - Advisory organisms—Disqualification | No insurer which makes its own filings nor any rating organization shall support its filings by statistics or adopt rate making recommendations, furnished to it by an advisory or service organization which has not complied with §§ 1235 and 1236 of this title, or with an order of the Commissioner involving such statisti... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-12/1238/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 12 - Rates and Rating Organizations (§§ 1201 — 1240)›§ 1238 - Right to hearing before the Commissioner | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 12 - Rates and Rating Organizations (§§ 1201 — 1240) › § 1238 - Right to hearing before the Commissioner | Any insurer, rating organization, or advisory organization aggrieved by any order or decision of the Commissioner made without a hearing, may, within thirty days after notice of the order to the insurer or rating organization, make written request to the Commissioner for a hearing thereon. Pending the hearing and a dec... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-12/1239/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 12 - Rates and Rating Organizations (§§ 1201 — 1240)›§ 1239 - Appeal from Commissioner | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 12 - Rates and Rating Organizations (§§ 1201 — 1240) › § 1239 - Appeal from Commissioner | The findings, determination and orders of the Commissioner made after notice and hearing, pursuant to this chapter, shall be subject to review by the Court of First Instance. In the event of final determination against any insurer, the amount of any overcharge received by such insurer during the pendency of such procee... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-12/1240/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 12 - Rates and Rating Organizations (§§ 1201 — 1240)›§ 1240 - Penalty for violations | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 12 - Rates and Rating Organizations (§§ 1201 — 1240) › § 1240 - Penalty for violations | Any person, association, corporation or rating organization that violates any of the provisions of this chapter shall, upon conviction thereof, be punished by a fine of not less than fifty dollars ($50) nor more than five hundred dollars ($500) for each offense.
If it is determined after due notice and hearing, that an... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-13a/1336/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 13A - Life Insurance and Annuities (§§ 1336 — 1379)›§ 1336 - Scope of chapter | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 13A - Life Insurance and Annuities (§§ 1336 — 1379) › § 1336 - Scope of chapter | The provisions of this chapter apply to contracts of life insurance and annuities other than reinsurance, group or collective life insurances or annuities. Sections 1367–1379 of this title, however, shall apply to both group and individual contracts on variable annuities.
History —Ins. Code, added as § 13.010 on Nov. 9... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-13a/1337/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 13A - Life Insurance and Annuities (§§ 1336 — 1379)›§ 1337 - Standard provisions required | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 13A - Life Insurance and Annuities (§§ 1336 — 1379) › § 1337 - Standard provisions required | (1) No policy of life insurance other than group and pure endowments with or without return of premiums or of premiums and interest shall be delivered or issued for delivery in Puerto Rico unless it contains in substance all of the provisions required by §§ 1340–1349 of this title. This section shall not apply to annui... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-13a/1338/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 13A - Life Insurance and Annuities (§§ 1336 — 1379)›§ 1338 - Right to examine the policy | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 13A - Life Insurance and Annuities (§§ 1336 — 1379) › § 1338 - Right to examine the policy | A provision that establishes the right of the insured to examine the policy shall be included therein. The provision shall appear on the cover page of the policy, or in any area that is visible without opening the same.
History —Ins. Code, added as § 13.030 on Nov. 9, 2007, No. 165, § 1, eff. 90 days after Nov. 9, 2007... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-13a/1339/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 13A - Life Insurance and Annuities (§§ 1336 — 1379)›§ 1339 - Beneficiary | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 13A - Life Insurance and Annuities (§§ 1336 — 1379) › § 1339 - Beneficiary | The policy shall include a beneficiary provision which shall describe the terms and conditions for designating or changing beneficiaries, or for selecting default beneficiaries, as needed, and indicating when such designation is effective. The policy shall state those changes in beneficiary, unless otherwise specified ... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-13a/1340/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 13A - Life Insurance and Annuities (§§ 1336 — 1379)›§ 1340 - Grace period | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 13A - Life Insurance and Annuities (§§ 1336 — 1379) › § 1340 - Grace period | There shall be a provision that the insured is entitled to a grace period of one (1) month, but not less than thirty (30) days, within which the payment of any premium after the first may be made, subject, at the option of the insurer, to an interest charge not in excess of six percent (6%) per annum for the number of ... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-13a/1341/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 13A - Life Insurance and Annuities (§§ 1336 — 1379)›§ 1341 - Entire contract | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 13A - Life Insurance and Annuities (§§ 1336 — 1379) › § 1341 - Entire contract | In all such policies other than those containing a clause making the policy incontestable from date of issue, there shall be a provision that the policy and the application therefor, if a copy thereof has been endorsed upon or attached to the policy, at issue and made a part thereof, shall constitute the entire contrac... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-13a/1342/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 13A - Life Insurance and Annuities (§§ 1336 — 1379)›§ 1342 - Incontestability | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 13A - Life Insurance and Annuities (§§ 1336 — 1379) › § 1342 - Incontestability | There shall be a provision that the policy shall be incontestable after it has been in force during the lifetime of the insured, for a period not exceeding two (2) years from its issuance date, except for nonpayment of premiums and, at the option of the insurer, for violation of any of the limitations permitted under §... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-13a/1343/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 13A - Life Insurance and Annuities (§§ 1336 — 1379)›§ 1343 - Misstatement of smoking status | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 13A - Life Insurance and Annuities (§§ 1336 — 1379) › § 1343 - Misstatement of smoking status | The policy shall have a clause to the effect that if it is found that the insured has misstated or stated his/her smoking status contrary to fact at the time of making the statement, the policy may provide for an adjustment due to a false smoking status statement to be made during the first two (2) years thereof; provi... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-13a/1344/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 13A - Life Insurance and Annuities (§§ 1336 — 1379)›§ 1344 - Misstatement of age or sex | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 13A - Life Insurance and Annuities (§§ 1336 — 1379) › § 1344 - Misstatement of age or sex | There shall be a provision that if it is found that the age or the sex of the insured (or the age or sex of any other individual considered in determining the premium) was misstated or stated contrary to fact at the time the statement was made. The amount payable or benefit accruing under the policy shall be such as th... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-13a/1345/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 13A - Life Insurance and Annuities (§§ 1336 — 1379)›§ 1345 - Participation in surplus | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 13A - Life Insurance and Annuities (§§ 1336 — 1379) › § 1345 - Participation in surplus | (1) In all policies which provide for participation in the insurer’s surplus, there shall be a provision that the policy shall so participate annually in the insurer’s divisible surplus as apportioned by the insurer, except that, at the option of the insurer, such apportionment, if any, may be deferred to the end of th... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-13a/1346/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 13A - Life Insurance and Annuities (§§ 1336 — 1379)›§ 1346 - Policy loan | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 13A - Life Insurance and Annuities (§§ 1336 — 1379) › § 1346 - Policy loan | (1) Excepting term insurance, the policy shall have a clause to the effect that after three (3) full years’ premiums have been paid thereon, the insurer, at any time while the policy is in force other than as extended term insurance, will advance, on proper assignment or pledge of the policy and on the sole security th... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-13a/1347/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 13A - Life Insurance and Annuities (§§ 1336 — 1379)›§ 1347 - Table of installments | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 13A - Life Insurance and Annuities (§§ 1336 — 1379) › § 1347 - Table of installments | If the policy provides for payment of its proceeds in installments, a table showing the amount and period of such installments shall be included in the policy; except, with respect to any provision for payment of the proceeds as a life annuity based on or related to the insurer’s annuity rates in current use at the tim... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-13a/1348/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 13A - Life Insurance and Annuities (§§ 1336 — 1379)›§ 1348 - Reinstatement | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 13A - Life Insurance and Annuities (§§ 1336 — 1379) › § 1348 - Reinstatement | There shall be a provision that the policy may be reinstated at any time within three (3) years after the date of default in the payment of any premium, unless the policy has been surrendered for its cash value, or the period of any extended insurance provided by the policy has expired, upon evidence of insurability, i... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-13a/1349/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 13A - Life Insurance and Annuities (§§ 1336 — 1379)›§ 1349 - Settlement on proof of death | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 13A - Life Insurance and Annuities (§§ 1336 — 1379) › § 1349 - Settlement on proof of death | There shall be a provision that when a policy becomes a claim by the death of the insured, settlement shall be made upon receipt of due proof of death and surrender of the policy.
History —Ins. Code, added as § 13.150 on Nov. 9, 2007, No. 165, § 1, eff. 90 days after Nov. 9, 2007. |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-13a/1350/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 13A - Life Insurance and Annuities (§§ 1336 — 1379)›§ 1350 - Annuities and pure endowment contracts; standard provisions required | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 13A - Life Insurance and Annuities (§§ 1336 — 1379) › § 1350 - Annuities and pure endowment contracts; standard provisions required | (1) No annuity or pure endowment contract other than a reversionary annuity, a survivorship annuity, or a group annuity, shall be delivered or issued for delivery in Puerto Rico unless it contains in substance each of the provisions specified in §§ 1351–1356 of this title. Any of such provisions not applicable to singl... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-13a/1351/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 13A - Life Insurance and Annuities (§§ 1336 — 1379)›§ 1351 - Grace period | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 13A - Life Insurance and Annuities (§§ 1336 — 1379) › § 1351 - Grace period | In an annuity or pure endowment contract, other than a reversionary, survivorship or group annuity there shall be a provision that there shall be a period of grace of one (1) month, but not less than thirty (30) days, within which any stipulated payment to the insurer falling due after the first may be made, subject, a... |
https://law.justia.com/codes/puerto-rico/title-twenty-six/subtitle-1/chapter-13a/1352/ | PR | Justia›US Law›US Codes and Statutes›Laws of Puerto Rico›2023 Laws of Puerto Rico›TITLE TWENTY-SIX - Insurance (§§ 101 — 10377)›Subtitle 1 - Insurance Generally (§§ 101 — 4513)›Chapter 13A - Life Insurance and Annuities (§§ 1336 — 1379)›§ 1352 - Incontestability | 2023 Laws of Puerto Rico › TITLE TWENTY-SIX - Insurance (§§ 101 — 10377) › Subtitle 1 - Insurance Generally (§§ 101 — 4513) › Chapter 13A - Life Insurance and Annuities (§§ 1336 — 1379) › § 1352 - Incontestability | If any statements, other than those related to age, sex or identity, are required as a condition to issuing an annuity or pure endowment contract, other than a reversionary, survivorship or group annuity, subject to § 1354 of this title, there shall be a provision that the contract shall be incontestable after it has b... |
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