PR | For the purpose of assisting in the disaster recovery and reconstruction process of Puerto Rico and evaluating compliance with the requirements of Obtaining and Maintaining insurance coverage as required by FEMA to all public assistance subrecipient government entities, the Office of the Commissioner Insurance formalized a collaboration agreement with the Central Office for Recovery, Reconstruction and Resilience of the Government of Puerto Rico.
As part of the evaluation process, it is required to collect information on properties insured under property policies subscribed to government entities, specifically government agencies. This information is necessary to identify whether there is duplication of insurance between government agencies.
Through the following Regulatory Letter, every insurer authorized to process property insurance is required to complete the document included as part of this regulatory letter “Properties Insured Under the Property Policies Subscribed to Government Entities” identified as Annex I. As part of this, annexed includes the list of government agencies for which the requested information must be provided. It is required to complete the information corresponding to the government agency for which the insurer issued the property insurance policy for the period from 2023 to 2024.
This information must be provided and sent to the email icc@ocs.pr.gov no later than November 30, 2023.
The strictest compliance with the guidelines indicated here is required. Failure to comply with this requirement may lead to the imposition of sanctions.
This Normative Letter has been translated from Spanish. Click here to view the original.