reglab/statecodes huggingface dataset:
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 and representatives of the insured and of the person effecting the insurance, and such proceeds and avails shall also be exempt from all liability for any debt of such beneficiary existing at the time the proceeds and avails are made available for his use.
(2) The provisions of subsection (1) shall apply:
(a) Whether or not the right to change the beneficiary is reserved or permitted in the policy, and
(b) whether or not the policy is made payable to the person whose life is insured, or to his estate, if the beneficiary, assignee, or payee shall predecease such person; except, that this clause shall not be construed so as to defeat any policy provision for other disposition of proceeds in event the beneficiary predeceases the insured.
(3) For the purposes of subsection (1) a policy shall also be deemed to be payable to a person other than the insured if and to the extent that a facility-of-payment clause or similar clause in the policy permits the insurer to discharge its obligation after the death of the individual insured by paying the death benefits to the person permitted by such clause.
(4) This section shall not apply as to a debt secured by a pledge of the policy, rights under the policy assigned, and to advance payments made on or against the policy.
(5) Benefits payable to the insured under any such policy in periodic installments, whether or not involving life contingencies, shall be governed by § 1135 of this title.
(6) No person shall be compelled to exercise any rights, powers, options, or privileges under any such policy.
History —Ins. Code § 11.330.
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 life insurance issued to debtor groups pursuant to this title, to the extent that such proceeds are applied to payment of the obligation for the purpose of which the insurance was so issued.
History —Ins. Code § 11.340.
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 defraud creditors, with interest thereon, but with respect only to annuity payments payable after final judgment of a court establishing the fact of fraud, and after written notice of such judgment has been filed with the insurer at his home office.
(b) The total exemption of benefits due and payable to any annuitant periodically or at stated times under all annuity contracts under which he/she is an annuitant, shall not at any time exceed one thousand dollars ($1,000) per month for the length of time represented by such installments.
(c) If the total benefits due and payable to any annuitant under all annuity contracts under which he/she is an annuitant shall at any time exceed payment at the rate of one thousand dollars ($1,000) per month, then the court may order such annuitant to pay to a judgment creditor or apply on the judgment, in installments, such portion of such excess benefits as to the court may appear just and proper, after due regard for the reasonable requirements of the judgment debtor and his/her family, if dependent upon him, as well as any payments required to be made by the annuitant to other creditors under prior court orders.
(2) If the contract so provides, the benefits, rights, privileges or options accruing under such contract to a beneficiary or assignee shall not be transferable nor subject to commutation, and if the benefits are payable periodically or at stated times, the same exemptions and exceptions contained herein for the annuitant, shall apply with respect to such beneficiary or assignee.
(3) An annuity contract within the meaning of this section shall be any obligation to pay certain sums at stated times, during life or lives, or for a specified term or terms, issued for a valuable consideration, regardless of whether or not such sums are payable to one or more persons, jointly or otherwise, but does not include payments to beneficiaries on account of death of the insured under life insurance contracts at stated time during life or lives, or for a specified term or terms.
History —Ins. Code § 11.350; June 20, 2007, No. 49, § 2.
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 the completion of such proof or the manner of any such completion or attempted completion.
History —Ins. Code § 11.360.
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) Furnishing forms for reporting a loss or claim, for giving information relative thereto, or for making proof of loss, or receiving or acknowledging receipt of any such forms or proofs completed or uncompleted.
(3) Investigating any loss or claim under any policy or engaging in negotiations looking toward a possible settlement of any such loss or claim.
History —Ins. Code § 11.370.
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 this chapter is intended:
(1) To prohibit or discourage reasonable competition, or
(2) to prohibit or encourage, except to the extent necessary to accomplish the aforementioned purpose, uniformity in insurance rates, rating systems, rating plans or practices.
This chapter shall be liberally interpreted to carry into effect the provisions of this section.
History —Ins. Code § 12.010.
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 filings made pursuant to § 1205 of this title.
(3) Rating organization.— Means every organization which now exists or which may hereafter be formed for the purpose of making rates to be used by more than one authorized insurer.
(4) Subscriber.— Means an insurer which is furnished rating services at its request by a rating organization of which it is not a member.
(5) Advisory or Service Organization.— Means a group, association, or other organization of insurers, whether located within or outside Puerto Rico, which assists insurers which make their own filings, or rating organizations in rate making, by the collection and furnishing of loss or expense statistics, or by the submission of recommendations, but which does not make filings under this chapter.
History —Ins. Code § 12.030.
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 rule made or used by it, as well as any other information concerning the application and computation of rates made and used by it, and every modification of any of the foregoing which it contemplates using. No such filing is required as to inland marine risks which, in accordance with general customs of the business, is not insured with rate manuals or rating plans. The rates on specific types of risks for inland marine risks specifically classified by a rating organization shall be filed with the Commissioner.
An insurer may fulfill its obligation to make such filings for any kind or type of insurance by becoming a member of, or subscribing to a rating organization which makes such filings for such kind or type of insurance, and by authorizing the Commissioner to accept them from the rating organization on such insurer’s behalf. Provided, That in the case of property insurance, the insurer shall become a member or subscriber of a rating organization authorized to present such insurance rates before the Commissioner.
(2) Every such filing shall state its proposed effective date and shall state or clearly indicate the character and extent of the coverage contemplated.
(3) Except as provided in subsection (1) of this section on property insurance, nothing contained in this chapter shall be construed as requiring any insurer to become a member or subscriber of a rating organization. Uniformity in rates or filings for registration is neither required nor prohibited.
(4) When a filing is not accompanied by the information upon which the insurer supports such filing, and the Commissioner does not have sufficient information to determine whether such filing meets the requirements of this chapter, he shall require the insurer to furnish such information. The information furnished in support of a filing may include:
(a) The experience or judgment of the insurer or rating organization making the filing,
(b) its interpretation of any statistical data it relies upon,
(c) the experience of other insurers or rating organizations,
(d) any other relevant factors.
(5) A filing and any supporting information shall be open to public inspection after the filing becomes effective.
History —Ins. Code § 12.050; May 10, 1976, No. 32, p. 84, § 12; Feb. 16, 1979, No. 15, p. 28, § 9; June 4, 1983, No. 89, p. 211, § 2.
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 be extended by the Commissioner for an additional period of not to exceed sixty days, if he gives notice within such waiting period to the insurer or rating organization which made the filing, that he needs such additional time for the consideration of the filing. Provided, That in case that the Commissioner may determine that the information furnished in the filing is not sufficient and therefore he requests additional information, the period of time lapsed from the moment in which the Commissioner gives notice of his request for additional information until same is filed with him, shall not be counted in the computation of the above-mentioned terms. The Commissioner may, upon application and for cause shown, waive such waiting period or any part thereof as to a filing which he has not disapproved.
(3) A filing shall be deemed to meet the requirements of this chapter unless disapproved by the Commissioner within the waiting period or any extension thereof.
(4) A rate filing as to any insurance or surety bond in lieu thereof required by any act of the Legislature shall not become effective until approved by the Commissioner.
History —Ins. Code § 12.060; July 23, 1974, No. 133, Part 1, p. 598, § 8.
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 fidelity or surety bonds required by law or by court or executive order or by order, rule, or regulation of a public body.
(2) Specific rates on inland marine risks individually rated by a rating organization.
History —Ins. Code § 12.070.
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 regarding the types of insurance for which a federal statute does not require such filing. Said orders, rules or regulations shall be made known to the insurers and organizations affected. The Commissioner may carry out any investigations he/she deems convenient to determine whether the rates affected by said order meet the requirements of § 1204(1)(b) [and] (c) of this title.
History —Ins. Code § 12.080; Sept. 6, 2000, No. 382, § 9.
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 which is otherwise applicable must submit evidence showing that the procurement of such coverage was not obtainable at normal rates from insurers authorized to underwrite the risk, as determined by the Commissioner. An insurer may, without the prior approval of the Commissioner, temporarily use on any specific risk, a rate in excess of that provided by a filing which is otherwise applicable, provided that within thirty (30) days from the date on which said excess rate was used for the first time, a filing is submitted for the consideration and approval of the Commissioner, pursuant to the provisions of this chapter. If the Commissioner finds that said filing does not comply with the provisions of this title, the insurer shall be obliged to amend each and every one of the contracts thus issued from the date said rate was first used, and shall advise the Commissioner of such action. Any cancellation of the contract shall be done according to the rates in effect at the time of the presentation, except that if there were a loss while the temporary rate is being used, the cancellation shall be made according to the rates presented by the insurer.
This section shall not apply to rates to be used in master policies and certified ones.
History —Ins. Code § 12.090; July 23, 1974, No. 133, Part 1, p. 598, § 9; Feb. 16, 1979, No. 15, p. 28, § 10; June 18, 1980, No. 151, p. 678, § 5.
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 to meet such requirements, and stating that the filing shall not become effective, to the insurer or rating organization which made the filing.
History —Ins. Code § 12.100.
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 what respects he finds that the filing fails to meet such requirements and stating when, within a reasonable period thereafter, the filing shall be deemed no longer effective.
(2) Such disapproval shall not affect any contract made or issued prior to the expiration of the period set forth in the notice of disapproval.
History —Ins. Code § 12.110.
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 which has made such filing. If the Commissioner finds after such hearing that such filing fails to meet the requirements of this chapter, he shall issue his order specifying in what respects he finds that such filing fails to meet the requirements of this chapter and stating when, within a reasonable period thereafter, the filing shall be deemed no longer effective.
(2) Such order shall not affect any contract or policy made or issued prior to the expiration of the period set forth in the order.
(3) If after such notice and hearing the Commissioner finds that unfair discrimination exists in the making or application of any rate, he may order removal of such discrimination; but the discrimination shall not be removed by increasing the rate on any risk affected by the order unless the increase is approved by the Commissioner as reasonable.
(4) Any person aggrieved with respect to any filing then in effect, other than the insurer or rating organization which made the filing, may make written application to the Commissioner for a hearing thereon. The application shall specify the grounds to be relied upon by the applicant. If the Commissioner finds that the application is made in good faith, that the applicant would be so aggrieved if his grounds are established and that such grounds otherwise justify holding the hearing, he shall, within thirty days after receipt of the application, hold a hearing as required in subsection (1).
(5) No manual, minimum, class rate, rules, classification, rating plan, rating rule, or any modification of any of the foregoing, or any modification which establishes standards for measuring variations in hazards or expense provisions, or both, and which has been filed pursuant to § 1205 of this title shall be disapproved if the rates thereby produced meet the requirements of this chapter.
History —Ins. Code § 12.120.
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 organization, or by such insurer, as the case may be, which are applicable to any kind or type of business done by such member or the subscriber, or by such insurer, except as provided in this chapter.
(2) No insurer, and no licensed insurance agent, solicitor, employee, or other representative of an insurer, nor any licensed insurance broker, shall charge or demand a rate or receive a premium which deviates from the rates, rating plans, classifications, schedules, rules, standards, and multiple-line programs, as defined by regulations, made and ultimately filed by, or on behalf of the insurer, nor issue or write any policy or contract involving a violation of such filing.
(3) No insurer, insurance agent, licensed insurance broker, solicitor, employee or other representative of an insurer shall charge, demand, receive or pay commissions on a policy, in excess of the maximum commissions fixed by the filing of approved rates or the maximum commissions fixed by the Commissioner. The Commissioner, from time to time, will notify the insurers and other insurance-related personnel of the maximum concessions for commissions then in effect.
History —Ins. Code § 12.130; June 4, 1983, No. 89, p. 211, § 3.
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 such rating organization for a kind of insurance or for a class of insurance which is found by the Commissioner to be a proper rating unit for the application of such deviation, or for a subdivision of a class of insurance:
(1) Comprised of a group of classifications by rate manual which is treated as a separate unit for rate-making purposes, or
(2) for which separate expense provisions have been included in the filings of the rating organization.
The application must specify the basis for the modification, and a copy of said application shall be sent simultaneously to the rating organization.
In considering the application for permission to file such deviation, the Commissioner shall give consideration to the available statistics and the rate-making principles as provided in § 1204 of this title. The Commissioner shall issue an order permitting the deviation for such insurer to be filed, unless he finds that the resulting premiums would be excessive, inadequate, or unfairly discriminatory.
Each deviation permitted to be filed shall be in effect until terminated, with the approval of the Commissioner.
History —Ins. Code § 12.140; June 4, 1983, No. 89, p. 211, § 4.
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 section is applicable and such other information as the Commissioner may deem necessary or expedient for the administration of the provisions of this chapter. The Commissioner may from time to time prescribe the form of such report including statistical data conforming to established classifications. Such statistical reports shall be consolidated in accordance with regulations prescribed by the Commissioner. No insurer shall be required to record or report its loss experience on a classification basis that is inconsistent with the rating system filed by it.
(2) Statistical plans and rules may be promulgated for the recording and reporting of expense experience as to items which are specially applicable to Puerto Rico and are not susceptible of determination by a prorating of expense experience elsewhere.
(3) In the promulgation of statistical plans and rules, the Commissioner shall give consideration to the rating systems on file with him and, in order that such rules and plans may be as uniform as is practicable with those of the several states of the United States, to the rules and to the form of the plans in such states.
History —Ins. Code § 12.150.
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 by such insurers and organizations. Such classifications of accounts, and statistics to be reported and form of reporting shall be reasonable and may vary with the kind or type of insurer or organization. Any regulation or amendment thereto shall be promulgated by the Commissioner only after a hearing preceded by due written notice to all insurers and organizations affected thereby. Any regulation or amendment thereto shall be promulgated by the Commissioner only after a hearing preceded by due written notice to all insurers and organizations affected thereby. Any regulation or amendment thereto shall be promulgated by the Commissioner at least six months before the beginning of the calendar year in which the same shall take effect.
History —Ins. Code § 12.160.
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 making and the application of rating systems. The Commissioner may promulgate reasonable rules and plans for the interchange of data necessary for the application of rating plans.
History —Ins. Code § 12.170.
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.
(2) The Commissioner may review such cooperative activities and practices and if appropriate, after a hearing, he may issue a written order specifying in what respects such activity or practice is unfair or unreasonable or otherwise inconsistent with the provisions of this chapter, and requiring the discontinuance of such activity or practice.
History —Ins. Code § 12.180.
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 § 12.190.
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 of reasonable rate modifications for such insurance, such agreements and the rate modifications to be subject to the approval of the Commissioner.
The Commissioner shall, by regulation for the purpose and when he deems it justified, distribute equitably among the principal insurers those insurances which by law are imposed on certain persons in order to transact certain businesses, whenever such persons are unable to obtain the coverage from the domestic insurers authorized to transact such insurances.
History —Ins. Code § 12.200.
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 rating organization.
(3) To apply for a license as a rating organization the applicant shall file with the Commissioner a statement setting forth:
(a) Name, address, and type of organization, if any, of applicant.
(b) The kinds of insurance or subdivisions thereof, class of risks or a part or combination thereof, with respect to which it proposes to act as a rating organization.
(c) Copy of its articles of incorporation, or of association, or agreement, or other constituent document.
(d) Copy of its bylaws and rules and regulations proposed to be used to govern conduct of its business.
(e) List of its members and subscribers.
(f) Name and address of a resident of Puerto Rico designated by it upon whom notices or orders of the Commissioner or process affecting the rating organization may be served.
(g) A statement of its qualifications as a rating organization.
(h) Such other information as the Commissioner may require.
(4) If the Commissioner finds that the applicant has complied with the provisions of law, that it has a sufficient number of members or subscribers, and is competent, trustworthy and otherwise qualified to function as a rating organization, he may issue a license to such rating organization authorizing it to make rates for the kinds of insurance or subdivisions or classes thereof specified in such license.
The Commissioner shall grant or deny in whole or in part every such application for a license within sixty days after date of filing with him.
(5) The license of the fee setting organism shall expire at midnight on the date of expiration, subject to the payment to the Commissioner of the annual fee set forth in § 701 of this title.
History —Ins. Code § 12.210; Mar. 27, 2003, No. 96, § 6, retroactive to Jan. 1, 2003.
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 may grant.
(2) The Commissioner shall not suspend or revoke the license of any rating organization for failure to comply with an order until the time prescribed for an appeal therefrom has expired or, if an appeal has been taken, until such order has been affirmed.
(3) The Commissioner may determine when a suspension of license shall become effective and it shall remain in effect for the period fixed by him, unless he modifies or rescinds such suspension, or until the order upon which such suspension is based is modified, rescinded or reversed.
(4) No penalty shall be imposed and no license shall be suspended or revoked except upon a written order of the Commissioner, stating his findings, made after a hearing held upon not less than ten days’ written notice to such person or organization, specifying the alleged disqualification or violation.
History —Ins. Code § 12.220.
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 address of the resident of Puerto Rico designated by it upon whom notice or orders of the Commissioner or process affecting the rating organization may be served.
History —Ins. Code § 12.230.
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 as a rating organization.
History —Ins. Code § 12.240.
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, subdivision, or class of risk or a part or combination thereof for which it is authorized to act as a rating organization.
(2) Notice of proposed changes in rules and regulations shall be given to subscribers. The reasonableness of any rule or regulation in its application to subscribers, or the refusal of any rating organization to admit an insurer as a subscriber, shall, at the request of any subscriber, or to [of] any such insurer, be reviewed by the Commissioner at a hearing held upon at least ten days’ written notice to such rating organization and to such subscriber or insurer.
History —Ins. Code § 12.250.
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.
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.
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 representative of such person, all pertinent information as to such rate, and a copy of the schedule, if any, as applied to such property or risk.
History —Ins. Code § 12.280.
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 any such licensee.
History —Ins. Code § 12.290; Jan. 19, 2006, No. 10, § 9, eff. 120 days after Jan. 19, 2006.
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 shall send written notice to the appellant and to the rating organization involved of a hearing to be held on the matter. At least ten days shall elapse between the date of the notice and that set for the hearing.
(2) After such hearing the Commissioner shall issue an order approving the action or decision of such rating organization or directing it to give further consideration to such proposal, or, if such appeal is from the action or decision of the rating organization in rejecting a proposed addition to its filings, he may, in the event he finds that such action or decision was unreasonable, issue an order directing the rating organization to make an addition to its filings, on behalf of its members and subscribers, in a manner consistent with his findings, within a reasonable time after the issuance of such order.
(3) If such appeal is based upon the failure of the rating organization to make, on behalf of such member or subscriber, a filing which is based on a system of expense provisions that differs, in accordance with the right granted in subsection (2) of § 1204 of this title, from the system of expense provisions included in a filing made by the rating organization, the Commissioner shall, if he grants the appeal, order the rating organization to make the requested filing for use by the appellant.
(4) In deciding such appeal, the Commissioner shall apply the standards set forth in subsection (1) of § 1204 of this title.
History —Ins. Code § 12.300.
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 proper executive of such rating organization or such insurer on an application for a change in such rate.
(2) Any person affected by the action of such rating organization or insurer taken upon such a hearing may, within thirty days after written notice of such action, appeal to the Commissioner, who, after a hearing held upon not less than ten days’ written notice to the appellant and to such rating organization or insurer, may affirm or reverse such action.
History —Ins. Code § 12.310.
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 group, association, or other organization referred to in § 1234 of this title.
(2) The reasonable costs of the examination shall be paid by the person or organization examined upon presentation of a detailed account of such costs.
(3) The directors, officers, agents, and employees of such person or organization may be examined under oath, and shall exhibit all books, records, accounts, documents, or agreements governing its affairs.
(4) The Commissioner shall furnish two copies of the examination report to the person or organization examined, together with notice that upon request made within twenty days thereafter, a hearing will be held upon such report before it is filed for public inspection. The report of examination, when filed for public inspection, shall be admissible in evidence in any action or proceeding brought by the Commissioner against the person or organization examined, or its officers or agents, and shall be prima facie evidence of the facts therein stated. The Commission may withhold the report from public inspection as long as he may deem proper.
(5) In lieu of any such examination, the Commissioner may accept the report of an examination made by the insurance supervisory official of another state or country, pursuant to the laws of such state or country.
History —Ins. Code § 12.330.
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 joint reinsurance, to §§ 1233 (examination), 117 (general penalties), and 1240 (penalty provision of this chapter) of this title.
(2) If, after a hearing, the Commissioner finds that any activity or practice of any such group, association, or other organization is unfair or unreasonable or otherwise inconsistent with the provisions of this chapter, he may issue a written order specifying in what respects such activity or practice is unfair, or unreasonable, or so inconsistent, and requiring the discontinuance of the activity or practice.
History —Ins. Code § 12.340.
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:
(a) Copies of its charter, articles of agreement or association, or of incorporation, and the bylaws, rules and regulations, and all amendments thereto, under which it operates or proposes to operate;
(b) a list of its members;
(c) the name and address of a resident of Puerto Rico upon whom notices or orders of the Commissioner or process issued at his direction may be served;
(d) an agreement that the Commissioner may examine such advisory organization in accordance with § 1233 of this title, and
(e) other information as required by the Commissioner.
(2) The license of the advisory organism shall expire at midnight on the date of expiration, subject to the payment to the Commissioner of the annual fees set forth in § 701 of this title.
History —Ins. Code § 12.350; Mar. 27, 2003, No. 96, § 7, retroactive to Jan. 1, 2003.
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 practice is unfair or unreasonable or otherwise inconsistent with the provisions of this chapter, and requiring the discontinuance of such act or practices.
History —Ins. Code § 12.360.