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Insurance market shows signs of stabilization; mortgage rates begin to ease, regulators say
Summary
The territory's insurance regulator reported NAIC reaccreditation and improved capacity among property-and-casualty carriers, while mortgage-rate data show modest declines; officials urged consumers to comparison-shop and said wooden-frame underwriting is possible on a case-by-case basis.
The Division of Banking, Insurance and Financial Regulation told lawmakers it earned reaccreditation from the National Association of Insurance Commissioners and that the local property-and-casualty market is showing improved capacity after storm-era disruptions.
Director Glendina Matthew said the NAIC determination allows other jurisdictions to rely on the division's examinations and could encourage more insurers to license in the territory. "This milestone was achieved following a comprehensive on-site evaluation," Matthew said.
Market capacity and premiums
Ma…
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