Puerto Rico Automobile Accident Compensation Administration
This article needs additional citations for verification. (May 2020) |
Company type | government-owned corporation |
---|---|
Founded | 1970 |
Headquarters | Puerto Rico |
This section needs expansion. You can help by adding to it. (February 2020) |
The Puerto Rico Automobile Accident Compensation Administration —Spanish: Administración de Compensaciones por Accidentes de Automóviles (ACAA) — is a government-owned corporation of Puerto Rico that provides compensation for medical and disability expenses resulting from traffic accidents in Puerto Rico. The coverage offered by the corporation is mandatory, but private insurance companies are allowed to provide supplemental policies. The corporation was created in 1970 pursuant to Law No. 138 of June 26, 1968.[1]
The corporation is run by a board of directors appointed by the Governor of Puerto Rico with the advice and consent of the Senate of Puerto Rico. In 2013, Gov. Alejandro García Padilla signed into law a measure cutting short the terms of directors appointed by the previous governor and replacing them with new members.[citation needed]
The $35 annual premium has remained unaltered since its inception in the 1970s and has generated an investment fund that had prevented premium rate increases.
References
- ^ National No-fault Motor Vehicle Insurance Act: Hearings, Ninety-third Congress, First Session, on S. 354 ... National No-fault Motor Vehicle Insurance Act: Hearings, Ninety-third Congress, First Session, on S. 354. U.S. Government Printing Office. 1973. p. 5-PA691. Retrieved 20 January 2020.
External links
- Articles with short description
- Short description matches Wikidata
- Articles needing additional references from May 2020
- All articles needing additional references
- Articles to be expanded from February 2020
- All articles to be expanded
- Articles using small message boxes
- Articles containing Spanish-language text
- All articles with unsourced statements
- Articles with unsourced statements from January 2020
- Government-owned corporations of Puerto Rico
- Financial services companies established in 1970
- Insurance companies of the United States
- All stub articles
- Puerto Rico stubs