Puerto Rico Sued On Countersignature Law
By Mark E. Ruquet
NU Online News Service, June 15, 3:50 p.m. EDT?The Council of Insurance Agents & Brokers said it filed suit against the Commonwealth of Puerto Rico today challenging its countersignature regulations.[@@]
Non-resident insurance brokers cannot conduct business in the commonwealth without the countersignature of a resident agent, CIAB said.
Scott Sinder, CIAB's general counsel, said the lawsuits were filed in U.S. District Court for the District of Puerto Rico. The suit argues that the Commonwealth's countersignature law violates the Privilege and Immunities clause of the U.S. Constitution.
CIAB has challenged the countersignature requirements in Florida and West Virginia, with the federal court striking down the regulations in Florida and the state legislature rescinding West Virginia's law.
CIAB said it has similar lawsuits pending in Nevada, South Dakota and the U.S. Virgin Islands.
A spokeswoman for the Insurance Department in Puerto Rico, Maite Estades, said Commissioner Dorelisse Juarbe was unavailable for comment at this time. She added that the department was unaware of the suit.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.