P.R. Laws tit. 26, § 1102
Subject to the provisions of this title, a contract of insurance may be made with respect to any subject and the hazards therein stated, as to which the possibility of damnification or an insurable interest exists, except that:
(1) No person shall be insured against the penal consequences of an offense; but this provision shall not be deemed to prohibit contracts providing for bail and expenses of defense as to penal offenses resulting from traffic accidents on land, sea, or in the air.
(2) No person shall insure or offer to insure, with or without consideration, any lottery or any result thereof or any contingency related thereto, whether in Puerto Rico or elsewhere.
(3) An insurance contract executed by way of gaming or wagering is void.
History —Ins. Code § 11.020.