Op-Ed: How to choose your insurance when buying your home
March 3, 2022
Buying a house or property is one of the most important decisions and the insurance of that property should have the same weight.
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500 families receive free microinsurance hurricane protection
September 17, 2021
Raincoat, a microinsurance technology company based on the island, partnered with the Puerto Rico Children and Youth Rights Network to provide free microinsurance financial protection against hurricanes to 500 low-income Puerto Rican families and Network participants. Raincoat creates technologies to provide adequate protection to people facing adverse weather conditions and natural disasters. The policy offers coverage of up to $1,000 a year. “This […]
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MCS offers benefits, products to fit needs of microenterprises
September 15, 2021
MCS recently launched its “There’s an MCS health plan for everyone” campaign that highlights all the products the company offers for individuals and small businesses. With direct and group health plans, MCS has a variety of options for students, employees without health plan benefits, self-employed professionals, and specific plans for small and medium-sized businesses. MCS […]
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Triple-S Management to be sold to GuideWell in all-cash deal worth $900M
August 24, 2021
GuideWell Mutual Holding Corporation, a health solutions company and parent of Blue Cross and Blue Shield of Florida Inc., and Triple-S Management Corp. a health care services company in Puerto Rico, announced they will combine to transform the health care experience for their members in Florida and Puerto Rico. Under the terms of the definitive […]
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AAFAF opens RFQ for firms to develop insurance plan per FEMA requirements
August 24, 2021
The Fiscal Agency and Financial Advisory Authority (AAFAF, in Spanish) has opened a Request for Qualifications cycle looking for firms that can firms that can assist the government meet the requirements of getting and maintaining insurance coverage for some public assets, following the parameters established by the Federal Emergency Management Agency (FEMA). AAFAF Executive Director […]
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New execs named in cross-section of Puerto Rico industries
March 26, 2021
This edition of Climbing the Corporate Ladder includes executive appointments in a cross-section of industries, namely manufacturing, health insurance, economic analysis and delivery services. Merck Puerto Rico names commercial GMAfter seven years leading the Central American and Caribbean region, Nilda Vázquez returns to the island as the new general manager for Merck Puerto Rico’s commercial […]
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TOLIC invests $10M to open 1st operation outside Puerto Rico, in Orlando
March 4, 2021
Puerto Rico-based Trans-Oceanic Life Insurance Co. is expanding its reach outside the island with the opening of a new operation in Orlando, seeking to cater to the large Hispanic population in that central Florida city. TOLIC, as the firm is known, has invested $10 million to grow its business there, which may also serve as […]
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Triple-S Vida enters Florida, Texas markets with life and cancer insurance
November 24, 2020
Triple-S Vida announced its entry into the Florida and Texas markets to offer its cancer and life insurance products and “position itself as an affordable and reliable option for consumers seeking economic protection against life’s events.” “These two markets offer us access to broad Hispanic populations, as well as an introduction to other consumers. We’re […]
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MCS invests $350K to expand Carolina offices
October 23, 2020
Medical Card System announced an investment of close to $350,000 to expand and renovate its customer service center in Carolina, adding about 50 direct jobs and providing access to healthcare services for insureds of the municipality, and neighboring towns. “At this historic moment, MCS is working hard to deliver all the services our insureds need, […]
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Óptima Seguros launches virtual inspection service
April 22, 2020
Óptima Seguros has launched a new service that allows performing virtual vehicle or property inspections during the claim evaluation process, while preserving the social distancing measures to contain the spread of COVID-19 on the island, said José Soto, vice president of claims. “The application is safe and very easy to use from any iOS or […]
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AIG joins ‘Jóvenes de Puerto Rico en Riesgo’ to rehab school
July 29, 2019
As part of its commitment to the community, AIG Puerto Rico joined the Jóvenes de Puerto Rico en Riesgo Inc., to rehabilitate several spaces at the José Santos Quiñones Middle School in Canóvanas, where they offer school dropout and delinquency prevention services. As part of the initiative, AIG, now celebrating 100 years as a provider […]
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Study shows ’17 was second-costliest year for insured, uninsured losses
July 10, 2019
A recent study on catastrophes published by Aon revealed that 2017 was the second costliest year on record for insured and uninsured losses, and will most likely become the record year for insured losses with further loss development from Hurricanes Harvey, Irma and María. In terms of economic losses due to weather-related disasters alone, 2017 […]
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The hidden reason for lack of insurance payments after Hurricane María
June 10, 2019
By Miguel Díaz-RománCenter for Investigative Journalism The ongoing nightmare of thousands of policyholders whose claims after Hurricane María have not been paid, or whose payment was not enough to cover the losses, could have been avoided if the island’s Catastrophic Reserve had not been reduced by amendments promoted by insurance companies with the consent of […]
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AON: Medical plans costs could be 3 times higher than general inflation of ’19
March 4, 2019
Employer-sponsored medical plan expenses could increase almost 8 percent worldwide this year, far exceeding the average general inflation of almost 3 percent, according to the “Global Medical Trends Rate Report 2019” released by professional services company Aon. It is estimated that the average increase in medical and pharmaceutical expenses for health plans during 2019, offered […]
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Liberty LatAm settles $108.5M in hurricane-related insurance claims
January 18, 2019
Liberty Latin America has reached a settlement agreement with its third-party insurance provider for $108.5 million in net damages related to Hurricanes Irma and María last year, the company confirmed. The gross amount agreed to in December 2018 totaled $138.5 million, but Liberty deducted $30 million in self-insurance from the total amount. “We have received […]
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