P.R. Laws tit. 26, § 3802
2019-02-20 00:00:00+00
The purpose of this chapter is to create a mechanism for the payment of covered claims under certain insurance policies in order to prevent excessive delays in payment, avoid financial losses to claimants or policyholders as a result of the insolvency of an insurer, help to detect and prevent the insolvency of insurers, and establish an association to access the cost of this protection among insurers.
History —Ins. Code, added as § 38.020 on Aug. 17, 1991, No. 72, § 1.