Reglamento 8973

This regulation establishes comprehensive guidelines for the Puerto Rico State Insurance Fund Corporation (SIFC) to facilitate the sale and promotion of workers' insurance policies through authorized insurance companies. Its core purpose is to enhance employer compliance with mandatory workers' insurance, expand coverage to a greater number of employers, and increase SIFC's revenues. The initiative acknowledges the dynamic sales and promotional capabilities of insurance companies, aiming to leverage these to improve upon SIFC's traditional reliance on direct employer visits. Issued under the authority of the Workers Accident Compensation System Act and the Uniform Administrative Procedure Act, the regulation applies to all insurance companies possessing the necessary licenses and certifications from the Insurance Commissioner of Puerto Rico. It defines key terminology and will detail general dispositions, including specific rules for policy sales, promotions, and quoting requirements.