Aprueba las PS1307 y la PS1277

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Aprueba las PS1307 y la PS1277

This petition made change with 59 supporters!
Enmiendas a Ley de Seguros started this petition to Comisión de Asuntos del Consumidor, Banca y Seguros Rep. Yashira Lebrón and

After Hurricanes Irma & María, many homeowners can't find insurance. If they are lucky enough, carriers can quote them a very high price.

Since many insurance policies are mandatory by Law, insureds have had to quote outside the island through excess and surplus lines (líneas exedentes).  The problem is that Puerto Ricans then have to pay a 9% tax for this insurance hence making it the most expensive of all and nearly impossible to purchase at best.  A 9% tax on insurance is higher than that of all US States and its Territories.  

PS1277 grants a moratorium on this tax for three (3) years and subsequently lowers it from 9% to 3%.  

To add insult to injury, the confusion created around insurance claims "expiring" made for the need of redacting PS1307.  If approved, PS1307 will make it clear that the insurance carrier cannot delay their responses to clients in the hope that the claim will expire on the insured.  

PS1307 will help a lot of people and condominiums with complicated transactions and who are being offered less money than their deductibles.  

Our Senate approved both of these measures on June 20th.  Now it's time to ask the House to do the same.  Please sign this petition and write to your Congressperson today.

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This petition made change with 59 supporters!

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