Tuesday, May 22, 2018

Commissioner issues intervention order to audit Puerto Rico insurers

By on January 26, 2018

SAN JUAN – Puerto Rico Insurance Commissioner Javier Rivera announced Friday he has issued several intervention orders against insurers so the agency can audit the handling of claims and compliance with the regulatory charter that gives priority to the industrial sector and essential public services.

Similarly, the official explained the process has been expedited for obtaining emergency adjuster certifications to respond to the large volume of claims filed after Hurricane Maria. Rivera said he has also assigned resources from his office to address and resolve public complaints related to the catastrophic event.

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Rivera indicated that through a recently reached collaborative agreement with the U.S. National Association of Insurance Commissioners, additional personnel trained in disaster relief were being brought to Puerto Rico to support the work of his agency’s officials.

“We will not tolerate any unjustified delay of insurers in the resolution of claims,” Rivera said. “We will ensure the resolution and payment of a claim is made within the term established by law, emphasizing quick attention to claims filed by businesses and the most vulnerable [people],” the commissioner added.

According to the Insurance Commissioner’s Office, efforts this month resulted in a $600 million increase in payments disbursed by insurers on the island.

Addressing avalanche of Puerto Rico claims, insurers assure solvency

“We hope this amount of money disbursed to insured consumers will double next month as claims are resolved,” Rivera added.

Policyholders who do not agree with their insurer’s handling of a claim have the right to request an investigation from the Insurance Commissioner’s Office. The request must be  submitted in writing, along with the corresponding evidence, either via letter or a request for investigation form, and may be filed by regular mail or email.

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