Assured has paid $205M in bond insurance claims
July 8, 2016
Two bond insurance subsidiaries of Assured Guaranty Ltd. have made some $205 million in debt service payments to holders of insured General Obligation and other bonds on which Puerto Rico and certain of its entities defaulted on July 1, the company announced Thursday.
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Insurer ASC launches new 100% online claim service
June 22, 2016
ASC, a Puerto Rico-based insurance company dedicated exclusively to providing compulsory liability insurance for vehicles, announced Tuesday a new service enabling customers to initiate and complete, completely online, the process of submitting a claim, as well as receive payment for the damage the same day of filing a claim.
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New home insurer offers 20% refund for clean slate
June 8, 2016
Following the success achieved with auto accident insurance firm Point Guard, the founding trio of entrepreneurs are now launching Puerto Rico Home Insurance, offering the only local home insurance policy that reimburses consumers 20 percent of their annual premium if they have no claims during the coverage year.
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A.M. Best: P.R.’s debt crisis remains test for insurers
May 13, 2016
While insurers domiciled in Puerto Rico have maintained underwriting discipline and demonstrated favorable operating results and solid balance sheet strength, the competitive operating environment and economic challenges there will hinder their ability to grow over the near to medium term, according to a new A.M. Best briefing.
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Ryan chief joins board of P.R. Captive Insurance Assoc.
March 29, 2016
Ryan, a global tax services firm, announced that Kenneth D. Kotch, Principal and Captive Insurance Practice Leader, has accepted a Board nomination to become a charter member of the Puerto Rico Captive Insurance Association.
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Congress must protect P.R’s ‘fragile’ health-care system
February 4, 2016
WASHINGTON — The prognosis for Puerto Rico’s health system is already critical and will only get worse if Congress doesn’t act fast, warned a panel of doctors and finance experts meeting on Capitol Hill this week.
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MCS creates a new life and disability subsidiary in P.R.
January 21, 2016
As part of a strategic move aimed at broadening its Puerto Rico products portfolio, MCS announced Wednesday it has created a new subsidiary, MCS General Insurance Agency, to tap into the life and disability insurance market.
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Constellation Health announces mobile enrollment app
October 15, 2015
As part of its efforts to continue to grow its Medicare Advantage market share on the island, Constellation Health has partnered with local startup, Celero Health Solutions, to enable their enrollment agents with a mobile solution to streamline the end-to-end sales through enrollment process.
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A.M. Best: P.R.’s insurance sector hit by debt crisis
August 11, 2015
Although most insurance carriers in Puerto Rico maintain sufficient capital to support lower bond ratings given their adequate capital positions and manageable exposures to the Puerto Rico municipal bond market, there will be circumstances where rating actions may have to be taken, ratings agency A.M. Best said.
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Triple-S gets perfect score from federal employees
July 28, 2015
For the fifth year in a row, Triple-S received the “PlanSmartChoice Plus” award and was recognized as the island’s only plan to get a perfect score in all categories evaluated.
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Triple-S Vida launches digital tools for agents, consumers
July 14, 2015
As part of a comprehensive redesign of its digital presence, Triple-S Vida announced the launching of a set of digital tools.
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A.M. Best: P.R.’s economic struggles an ongoing challenge
July 6, 2015
Puerto Rico bonds have historically been well-received at issuance as they are triple tax-exempt, offering an alternative to investors that are free from local, state and U.S. federal taxes.
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Aon survey shows P.R. co.’s value insurance protection
June 19, 2015
Puerto Rico businesses are “aware about the need to protect their most important assets” should some natural or induced event arise that could affect their operations, a study released Thursday by Aon plc, a risk management, brokerage, reinsurance, and human resources consulting and outsourcing services firm.
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Ruiz-Comas to step down from Triple-S helm in Jan. ’16
May 19, 2015
Puerto Rico managed care provider Triple-S Management Corp. announced Monday the retirement of Ramón Ruiz-Comas, its president and chief executive officer, effective Jan. 1, 2016.
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Insurance provider ASC opens new office in Vega Baja
April 2, 2015
The Compulsory Liability Insurance Joint Underwriting Association (known as ASC for its initial in Spanish) recently inaugurated a new service center in Vega Baja, to give access to clients in the region.
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