Puerto Rico stands to receive a $1 billion assignment from U.S. Congress under the State Children’s Health Insurance Program, which would cover the local government’s public healthcare coverage plan for the medically indigent through Sept. 30, 2018, said Health Insurance Services Administration Executive Director Ángela Ávila.
The Puerto Rico International Insurers Association (PRIIA) issued a statement Thursday saying it operates under laws and regulations that insulate its member companies and their clients from any changes to Puerto Rico that Title III bankruptcy may bring about.
Despite the ongoing economic issues in Puerto Rico, the domestic property/casualty (P/C) insurers have managed to generate operating profits over the past 10 years, driven primarily by solid and consistent underwriting performance, A.M. Best said in a statement issued Thursday.
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