(1) Insurance consultant is the person who for compensation as independent contractor, if not the insurer, advises his/her clients, provides advice and information regarding the terms of a policy, its conditions, coverage benefits, the premium of any policy or contract and offers orientation with relation to the advisability or opportunity of canceling or continuing to hold a policy or of accepting or obtaining any contract or policy.Any person who through any advertisement or any means of publicity uses the title of insurance consultant, insurance specialist, insurance advisor, insurance analyst or any similar title shall be deemed as an insurance consultant and shall be bound to meet all requirements that to those effects are provided in this chapter.(2) This provision shall not apply to attorneys in active professional practice nor to insurance actuaries, members of the Society of Actuaries or of the Academy of Actuaries, who incidentally render services as consultants on insurance matters.(3) Property and contingency insurance consultant is the person who holds a license as consultant in one or several of the following kinds of insurance:(a) Property(b) Casualty(c) Surety(d) e matters.(3) Property and contingency insurance consultant is the person who holds a license as consultant in one or several of the following kinds of insurance:(a) Property(b) Casualty(c) Surety(d) Transportation and marine(e) Title(4) Life and disability insurance consultant is the person who holds a license as life insurance, annuities and disability consultant, including health care plans. History —Ins. Code, added as § 9.051 on Jan. 19, 2006, No. 10, § 8, eff. 120 days after Jan. 19, 2006.
Puerto Rico Legal Code