Puerto Rico insurance bills

What it would do: Creates Subclasses 3-M, 4-M, and 5-M for international insurers operating as multistate international insurers, requiring them to comply with specified Puerto Rico Insurance Code provisions and NAIC uniform financial solvency standards, with a one-year transition period.

What it would do: Authorizes Puerto Rico's Insurance Commissioner to contract external accredited firms, consultants, actuaries, and specialists to review complex insurance matters, with reasonable costs paid by the applicant or regulated entity requesting the review, and requires the Commissioner to establish regulations on selection, accreditation, and conflict-of-interest safeguards.

What it would do: Establishes policy requiring Puerto Rico's Department of Health and ASES to design and submit applications to federal Centers for Medicare & Medicaid Services within 180 days to implement Home and Community-Based Services programs under Medicaid Sections 1915(c), 1915(i), 1915(k), and 1115, with standards for provider accreditation, quality control, fraud prevention, and municipal participation.

What it would do: Amends Puerto Rico's Insurance Code Chapter 44 to align with NAIC updates by requiring insurance holding companies to submit annual Group Capital Calculation reports and Liquidity Stress Test results, and establishes confidentiality protections for these regulatory filings.

What it would do: Creates insurance subclasses 3-M, 4-M, and 5-M for international insurers and reinsurers underwriting risks in other U.S. states or territories, requiring them to comply with NAIC financial solvency standards applicable to multistate insurers.