P.R. Laws tit. 26, § 413

2019-02-20 00:00:00+00
§ 413. Third party’s rights against reinsurer

The original insured or policyholder or any person other than the ceding insurer, who enters a claim by virtue of any insured or policyholder’s insurance, shall not have any direct right of action against the reinsurer which is not specifically set forth in the reinsurance contract, or in a specific agreement between the reinsurer and such original insured or policyholder.

Upon the request of the insured, any insurer who cedes for reinsurance all, or any part of a risk, shall be obliged to furnish him with the following information:

(1) The reinsurer’s name and address.

(2) The total amount of the reinsured portion.

(3) The risks covered by the reinsurance agreement or contract.

The Secretary of the Treasury and the heads of those public authorities and corporations who have obtained the authorization to procure and contract their insurance directly, pursuant to subsection (3) of § 1202 of this title, shall have the obligation of procuring and obtaining the information described above from their insurers. In cases of reinsurance, the Secretary, or the head of those public authorities or corporations duly authorized pursuant to the above, shall be obliged to comply with the provisions of Article 4.130 of this Code [this section].

History —Ins. Code § 4.130; Feb. 16, 1979, No. 15, p. 28, § 4; May 23, 1984, No. 19, p. 41.