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Call to review property insurance in Puerto Rico

Seven out of 10 homes do not have insurance, while an unspecified number of mortgaged properties have insufficient coverage

September 16, 2024 - 5:10 PM

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This content was published more than 6 months ago.

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Acodese and the Puerto Rico Bankers Association (ABPR) launched a campaign to alert consumers about the need to review disaster insurance policies as a result of the increase in replacement costs of materials and labor. (Jorge A Ramirez Portela)

By Maricarmen Rivera Sánchez

Periodista de Negociosmaricarmen.rivera@gfrmedia.com

In addition to all the consequences of inflation, insurance policies against hurricanes, earthquakes and other disasters that were purchased more than four years ago may not provide the protection expected by the owners of thousands of homes and other properties in Puerto Rico, according to an analysis by the Association of Banks of Puerto Rico (ABPR) and the Association of Insurance Companies (Acodese).