Puerto Rico-domiciled insurers should be able to navigate losses driven by the storm surge, power outages and flooding that Hurricane Ernesto has unleashed there, with the island’s eastern and central regions being the most impacted, according to a new AM Best commentary.

During FIDES Rio 2023, Insuralex presented the FIDES / Insuralex insurance regulatory report and announced a new member in Puerto Rico. Saldaña, Carvajal & Vélez-Rivé, PSC, Puerto Rico’s largest and leading law firm in insurance law, has been selected as the exclusive member firm for the Island by Insuralex Global Insurance Lawyers Group. Insuralex, the world’s preeminent insurance and reinsurance …

Insuralex and FIDES (Federación Interamericana de Empresas de Seguros) have launched a report on insurance regulatory matters in the countries where FIDES has member insurer associations. FIDES represents 18 Latin American countries as well as Spain and The United States. Topics include: Licensing requirements for setting up insurers Regulatory and financial information Solvency requirements Supervision Distribution channels Reinsurance Investments Microinsurance regulations Cyber risk regulations Technology regulations …

FIDES (Federación Interamericana de Empresas de Seguros) has launched a report on insurance regulatory matters in the countries where FIDES has member insurer associations. FIDES represents 18 Latin American countries as well as Spain and The United States. Topics include: Licensing requirements for setting up insurers Regulatory and financial information Solvency requirements Supervision Distribution channels Reinsurance Investments Microinsurance regulations Cyber …

Insuralex is launching a new free webinar: Insurance market in Ibero-America: responses in the post-COVID world   The COVID pandemic that hit the world in 2020 not only shook global health systems, but also impacted with particularly serious consequences in all economic sectors of society. The challenges posed for thousands of companies and states are not yet fully known. However, …

A children’s hospital in hurricane-battered Puerto Rico has had its power restored thanks to electric-carmaker Tesla. The Hospital del Niño in San Juan, which has at least 35 critically ill patients, has been in dire need of electricity ever since the US territory’s  energy infrastructure was deciminated by Hurricane María last month. “Hospital del Niño is first of many solar+storage projects going live. …

RGL Forensics has a Catastrophe Response Team on the ground in Puerto Rico following the devastation inflicted by Hurricane Maria. Carlos Rivera, partner in RGL’s Miami Office and co-chair of the firm’s LatAm practice, recounts his experience. As storm waters recede and debris is cleared, residents and communities begin the task of putting their lives and businesses back together. But …

The White House has approved a request to waive the Jones Act for Puerto Rico, White House press secretary Sarah Sanders said Thursday. “At @ricardorossello request, @POTUS has authorized the Jones Act be waived for Puerto Rico. It will go into effect immediately,” Sanders tweeted Thursday. Puerto Rico Gov. Ricardo Rossello said he asked the White House on Wednesday to …