Zelle LLP (JD Supra Puerto Rico)

In response to the extremely active 2017 Atlantic hurricane season, the governor of Puerto Rico enacted several bills that amend or introduce new provisions to the Insurance Code of Puerto Rico, 26 L.P.R.A. § 101 et seq., including provisions regarding additional civil remedies against insurers, as well as new requirements for insurers, surplus carriers, and micro-insurance providers. 

In our recent article addressing property insurance in Puerto Rico, we discussed the new appraisal rules for Puerto Rico property insurers that the governor of Puerto Rico enacted in response to the extremely active 2017 Atlantic hurricane season. The governor also enacted five other bills that amend or introduce new provisions to the Insurance Code of Puerto Rico, 26 L.P.R.A. § 101 et seq.,...

In response to the extremely active 2017 Atlantic hurricane season, Puerto Rico’s governor signed into law six bills that amend or introduce new provisions to the Insurance Code of Puerto Rico, 26 L.P.R.A. § 101 et seq. These bills address the newly established appraisal process, expedited payment requirements and additional civil remedies against insurers. They also address requirements for...

The 2018 Atlantic Hurricane Season began on June 1 and ends on Nov. 30. This year, the season began with concerns about what is yet to come — particularly in light of the passing of Subtropical Storm Alberto through the Gulf of Mexico — and the lingering impact of the last hurricane season. This is particularly true in Puerto Rico. The 2017 Atlantic Hurricane Season was unkind to “La Isla del...

In the last week, there have been several news stories about the recent island-wide power outage in Puerto Rico, the tenuous condition of Puerto Rico’s power grid, and the fact that hurricane season is right around the corner. Last Wednesday, a construction vehicle removing a fallen electrical tower got too close to an energized line and caused an electrical ground fault that led to an island-wide

In the six months since Hurricane Maria devastated Puerto Rico, much progress has been made. Water service has been restored to 99% of the island and electricity to 93%. Of the total losses in the Caribbean from Maria, about 85% are in Puerto Rico, which the local government estimates at $100 billion. Insured losses are estimated between $40 and $85 billion.

2017 saw approximately USD 330 billion in losses from natural disasters worldwide, of which around USD 135 billion were insured, according to a Munich Re report. It was the second costliest year on record, only surpassed by 2011. Latin America was no exception to the trend, as a number of natural catastrophes hit the region last year.

Last month, as Hurricane Maria bore down on Puerto Rico, we reposted our Puerto Rico claims checklist and an analysis of causation under Puerto Rico law. In Maria’s devastating aftermath, many Puerto Ricans are still focused on necessities, and filing an insurance claim for damage to their home or business is not top of mind. But as recovery efforts gain momentum, the claims will begin to come in.

With the Imminent Arrival of Hurricane Maria in Puerto Rico, we are re-posting our claims checklist for Puerto Rico - Insurers Should Keep in Mind the Following Claim Handling Requirements from the Puerto Rico Insurance Code...

While Puerto Rico was spared a direct hit from Hurricane Irma, it now appears it will face the full brunt of Hurricane Maria. Maria is projected to strike Puerto Rico as a Category 4 Hurricane. Many of the same concurrent causation issues that we predicted may occur with Irma are also likely to exist with Maria and may be even more pronounced with the increased severity of damage from Maria.

While Puerto Rico was spared a direct hit from Hurricane Irma, it was lashed by Irma’s wind and experienced significant amounts of rain that will likely lead to flooding. There may also be damages arising from storm surge along the Northern Coast. Reportedly, more than 1 million people are without power. Many policies may exclude flood and limit or exclude losses arising from power interruption....

With the Imminent Arrival of Hurricane Irma in Puerto Rico, Insurers Should Keep in Mind the Following Claim Handling Requirements from the Puerto Rico Insurance Code...