The Puerto Rico State Insurance Fund Corporation is a public corporation created in the 1940's as the "Fondo del Seguro del Estado" to provide workmens' compensation in Puerto Rico.
It is headed by a Board of Directors appointed by the Governor of Puerto Rico and subject to the advice and consent of the Senate of Puerto Rico.
The corporation holds a monopoly on workmen's compensation in Puerto Rico, and no private insurance company is allowed to offer workmen's comp, while all employers are required by law to insure their employees with the corporation at the rates and premiums set by its Board of Directors.