P.R. Laws tit. 26, § 309
(1) To qualify to receive the authority to transact any kind of insurance, an insurer must have and hold paid-in capital or surplus stock in an amount which shall not be less than what appears in the applicable portion of the following schedule:
Stock, mutual, or cooperative insurers Reciprocals Capital or surplus or Lloyd’s Kind of Insurance required Surplus required Life $1,500,000 Not applicable Life and disability $2,500,000 Not applicable Disability $1,000,000 $1,000,000 Property $2.000,000 $2,000,000 Agricultural only Must qualify for property insurance Marine and Transport $1,500,000 $1,500,000 Casualty $2,000,000 $2,000,000 Vehicle only $1,500,000 $1,500,000 Surety and fidelity $1,500,000 $1,500,000 Title $1,500,000 Not applicable Mortgage loans $3,000,000 Not applicable All insurance except life and mortgage loans $3,000,000 $3,000,000
(2) The Commissioner may increase the aforementioned requirements as may be determined by the economic condition of the country up to the amount he deems necessary for the adequate protection of the interests of the insured and the creditors of the insurer.
(3) [Repealed. Act July 20, 1979, No. 154, p. 395, § 1, eff. July 20, 1979.]
History —Ins. Code § 3.090; June 5, 1973, No. 98, p. 419, § 2; July 20, 1979, No. 154, p. 395, § 1; Dec. 16, 2003, No. 303, § 1.