No group and blanket disability insurance policy shall be issued for delivery in Puerto Rico, unless it contains substantially the same provisions of §§ 1703–1708 of this title, inclusive, or provisions that in the judgment of the Commissioner are more favorable to the insured persons, or which are, at least, equally favorable to the insured persons, and more favorable to the policyholder; Provided, however, That the provisions of §§ 1706 and 1707 of this title shall not apply to policies issued in favor of a creditor to insure debtors of said creditor from disability, and that the uniform provisions required for the individual disability insurance policy shall not apply to group disability insurance policies. Provided, That §§ 1609, 1610 and 1613 of this title shall apply to contracts supplemental to life insurance and to endowment insurance or annuity contracts.
History —Ins. Code, added as § 17.020 on June 30, 1975, No. 115, p. 345, § 2; June 24, 1977, No. 112, p. 281, § 2; Mar. 18, 2008, No. 31, § 8, eff. 90 days after Mar. 18, 2008.