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Extensions Granted by the P.R. State Insurance Fund

An McV Labor & Employment Law Alert

Employers in Puerto Rico with permanent or eventual insurance policies with the State Insurance Fund (“SIF”), with unpaid premium payments that were due on October and November 2017, have until December 29, 2017 to satisfy such payments and maintain their insured employer status. The SIF granted this automatic extension as a relief measure for employers affected by Hurricane Maria. No further extensions will be granted by the SIF.

The SIF also approved a 90 day extension to the Incentive Plan approved on August 22, 2017, which originally ended on December 20, 2017. Employers in Puerto Rico now have until March 20, 2018 to benefit from the SIF’s Incentive Plan to satisfy amounts owed to the SIF, subject to certain requirements and conditions. For more information regarding the SIF’s Incentive Plan, refer to our Alert dated October 6, 2017.

The content of this McV Alert has been prepared for information purposes only. It is not intended as, and does not constitute, either legal advice or solicitation of any prospective client. An attorney-client relationship with McConnell Valdés LLC cannot be formed by reading or responding to this McV Alert. Such a relationship may be formed only by express agreement with McConnell Valdés LLC.

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