Antilles Insurance Co. President, Jaime J. González Portilla, has announced the launch of a new service. Employment-Related Practices Liability (EPL), the new service within its comercial package, should be available to clients in approximately two months.

“It is not a new product in the market, but it’s an important product and we are making it available to our commercial customers,” he said. EPL pays litigation and indemnity expenses in case of wrongful employee termination or sexual harassment, among other situations.

“Our promise to customers,” said González Portilla, “is peace of mind. We are the best capitalized company in Puerto Rico in terms of net worth versus subscribed premiums, and our customers can count on us in the event of any catastrophe.”

Although González Portilla has identified a market tendency to expand local insurance companies to the mainland U.S., he admits he doesn’t plan to follow suit. His plan is to continue renewing Antilles’ current customer portfolio. Commenting on another industry trend that has been going on for a couple of years now, he said, “it’s a soft market,” referring to low prices as a result of Puerto Rico’s highly competitive insurance market.