P.R. Laws tit. 26, § 8052
For the purposes of this chapter, the following terms and phrases shall have the meaning stated below:
(a) Insurer.— Means a private insurer as well as the Joint Underwriting Association.
(b) Private insurer. — Means an insurer who is or may be licensed in the future to underwrite insurance in Puerto Rico, against any loss, expense or liability for the loss or the damage caused to persons or property resulting from the possession, conservation or use of a land vehicle, airship, or draft animals or mounts, or incidental thereto, all of which [is] pursuant to § 407 of this title; provided, that the volume of premiums underwritten for that type of insurance by said insurer is greater than one percent (1%) of the total volume of premiums underwritten in Puerto Rico for the same.
(c) Joint Underwriting Association.— Means the Compulsory Liability Insurance Joint Underwriting Association, a private association in charge of providing and administering the compulsory liability insurance acquired through the payment of fees for the [issuance] or renewal of a motor vehicle license, created by this chapter.
(d) Code.— Means Act June 19, 1957, No. 77, as amended, denominated as the “Insurance Code of Puerto Rico”, §§ 101 et seq. of this title.
(e) Commissioner.— Means the Insurance Commissoner of Puerto Rico.
(f) Entities authorized to collect the compulsory liability insurance.— Means the entities authorized by the Secretary of the Treasury and the Secretary of Transportation and Public Works to collect the payment of fees for the issuance or renewal of a motor vehicle license together with the payment of the compulsory liability insurance.
(g) Uniform policy form.— Means the policy form of identical content to be used by all insurers to underwrite compulsory liability insurance.
(h) Puerto Rico Vehicle and Traffic Act.— Means §§ 5001 et seq. of Title 9.
(i) Motor vehicle license.— Means any motor vehicle certificate of registration issued pursuant to §§ 5001 et seq. of Title 9.
(j) Uniform premium.— Means the maximum uniform premium to be charged for the compulsory liability insurance for private passenger vehicles or for commercial vehicles.
(k) Compulsory liability insurance.— Means the insurance required by this chapter and that responds for damages caused to third party motor vehicles as a result of a traffic accident, for which the owner of the vehicle covered by this insurance is legally liable, and through its use, the damages occurred according to the system for the initial determination of liability created pursuant to this chapter. Said insurance shall have coverage of four thousand dollars ($4,000) per accident. The Joint Underwriting Association may review and modify the coverage and the compulsory liability insurance policy every two (2) years, in accordance with its financial stability and actuarial studies. However, the coverage may never be less than three thousand dollars ($3,000). The Joint Underwriting Association shall notify the determined coverage and policy to the Commissioner.
(l) Traditional liability insurance.— Means a vehicle insurance as defined in § 407 of this title, different from what is defined in subsection (j) of this section, and underwritten by private insurers.
(m) Commercial vehicles.— Means those motor vehicles that the Department of Transportation and Public Works does not register as private automobiles, automobiles owned by disabled persons, or motorcycles. The term “commercial vehicle” includes trailer trucks of more than two (2) tons registered as such in said Department.
(n) Motor vehicle.— Means and includes commercial vehicles and private passenger vehicles.
(o) Private passenger vehicles.— Means those motor vehicles that the Department of Transportation and Public Works registers as private automobiles, automobiles owned by disabled persons, and motorcycles.
History —Dec. 27, 1995, No. 253, § 3; Aug. 20, 1997, No. 94, § 1; Dec. 26, 1997, No. 201, § 1; Dec. 29, 2009, No. 201, § 2.