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Expert Analysis

New Appraisal Rules For Puerto Rico Property Insurers

By Akira Céspedes Pérez (February 7, 2019, 5:43 PM EST) -- In response to the extremely active 2017 Atlantic hurricane season, Puerto Rico's governor signed into law[1] 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 insurers, surplus carriers and micro-insurance providers....

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