Search and rescue at sea in Panama belongs to SENAN (Servicio Nacional Aeronaval), reached by VHF channel 16, by phone through 911 and through its own numbers, with SINAPROC (the national civil protection service) coordinating ashore. The Autoridad Marítima de Panamá (AMP) takes accident reports and investigates. Inside canal waters the Autoridad del Canal de Panamá (ACP) controls traffic and response. There is no commercial towing network like Florida's; towing is done by marinas, friends, fishermen and, in real emergencies, SENAN. Hospitals with marine-casualty experience are in Panama City and David, so a medical emergency in Las Perlas or San Blas is a transport problem first.
The three questions: who do I call, what are the real risks here, and what does a rescue or tow cost. Call SENAN on 16 and 911; have the boat's position, number aboard and nature of the problem ready in Spanish and English. The real risks are lightning and squalls in the rainy season, strong Pacific tidal currents for anyone in the water, reefs on the Caribbean side and floating logs after heavy rain. SENAN does not charge for rescue; private tows are negotiated, so agree a price before the line goes across.
This collection will cover boating emergencies in Panama and who to call, person overboard in tides and currents, fire and flooding preparation, groundings and collisions, towing and salvage in Panama, reporting a boating accident, medical emergencies afloat, lightning and squalls, and documenting a charter incident. The Panama City marine offices page lists where to report, and the Bahía de Panamá guide covers the local hazards.
The Florida emergencies sub-hub is the twin, written for a coast with commercial towing and Coast Guard sectors.