P.R. Laws tit. 26, § 1114
(1) The written instrument in which a contract of insurance is set forth is the policy.
(2) Every policy to be effective in Puerto Rico shall be offered in the Spanish language and shall be issued in the English language at the option of the proposed insured. In the interpretation of said policies, the text that is of most benefit to the insured shall prevail. The provisions of this subsection shall not apply to such insurance which the Commissioner, through regulations to that effect, may exclude because of its technical nature or volume.
(3) The policy shall specify:
(a) The names of the parties to the contract, and the status of any party where such status is material to the contract. The policy shall be headed by the insurer’s name.
(b) The subject of the insurance.
(c) The hazards insured against.
(d) The amount of the insurance and benefits.
(e) The time at which the insurance thereunder takes effect and the period during which the insurance is to continue.
(f) A statement of the premium, and the premium rate if other than life, disability, or title insurance. As to title insurance, a statement of the premium need not be contained in the policy if such statement is contained in the application for the policy.
(g) The conditions pertaining to the insurance.
(h) Except policies of the kinds of insurance defined in §§ 402 and 403 of this title, and subject to the provisions of § 1127, the grounds on which the policy is cancelled and the right of the insured to request them.
(i) Except policies of the kinds of insurance defined in § 402, a clause specifying the procedure for the renewal of the policy. The Commissioner shall determine through regulation the insurances to which this provision applies.
(4) If under the contract the exact amount of premium is determinable only at termination of the contract, or at periodic intervals of the contract, a statement of the basis and rates upon which the final premium is to be determined and paid shall be furnished any policy examining bureau having jurisdiction or to the insured upon request.
(5) This section shall not apply to surety insurance except as provided in § 1111(1) of this title, or to group and blanket insurance policies or contracts.
(6) [Repealed. Act June 16, 1978, No. 6, p. 379, § 1, eff. June 16, 1978.]
History
—Ins. Code § 11.140; June 5, 1973, No. 98, p. 419, § 14; July 23, 1974, No. 161, Part 1, p. 729; May 10, 1976, No. 32, p. 84, § 10, May 19, 1977, No. 24, p. 49, June 16, 1978, No. 6, p. 379, § 1.