On Oct. 1, PR RICO INS scheduled a meeting of insurers syndicate.
PR RICO INS issued Circular letter CC-2024-2039-AF, on statutory meeting of insurers syndicate for joint underwriting of medical-hospital professional liability insurance.
Scheduled on Nov. 4, 2024; provided a designation of authorized representative form.
Insurer participation in syndicate required to continue writing insurance in Puerto Rico.
Insurers Syndicate
PR RICO INS 41.040 created the insurers' syndicate for joint underwriting of medical-hospital professional liability insurance to provide this insurance to qualified applicants.
Composed of all insurers authorized in Puerto Rico to contract applicable insurance.
Vote weight in proportion tied to net direct premiums written in prior calendar year.
Distributions of premiums written during 2023 assigned to be distributed at meeting.
Authorized representative form shall be executed and presented before the meeting.
Effectiveness
Virtual meeting for syndicate members scheduled to be held Nov. 4, 2024, 9:30 am.
