July 19, 2011
MANILA, Philippines – There are still 20 insurance companies whose certificate of authority (CA) had been withheld.
The CA is an annual license to operate issued to life, non-life, and re-insurance companies, as well as mutual benefit association (MBA). The Insurance Commission (IC) is the issuing agency under the guidance of the Department of Finance (DOF). Read the rest of this entry »
May 24, 2011
MANILA, Philippines – Four insurance companies are still struggling to raise the mandated P125-million minimum paid up capital required by the Insurance Commission (IC) and the Department of Finance (DOF). The reportorial deadline expired last March. Read the rest of this entry »
January 20, 2011
PEOPLE SHOPPING for insurance policies are using different channels to do so, IBM said yesterday, and insurers must therefore “embrace multiple channel strategies” to stay on top of their game. Read the rest of this entry »
December 12, 2010
THE immediate passage of a measure implementing a comprehensive insurance scheme that will cover the damage caused by natural disasters has been sought in the House of Representatives. Rep. Teodorico Haresco Jr. of Ang Kasangga party-list was referring to his House Bill 2672, which states that no comprehensive motor vehicle insurance policy will be issued and delivered in the Philippines unless it contains in substance the provision that comprehensive motor vehicle insurance shall cover all fortuitous events, such as floods, landslides, typhoon, volcanic eruptions, earthquakes and other related natural calamities. Read the rest of this entry »
November 9, 2010
THE POOR may need microinsurance, but they will not buy just any product that’s presented to them.
They need to clearly understand what they are paying for and what they are getting, said Craig Churchill, team leader of the International Labour Office’s (ILO) Microinsurance Innovation Facility. Read the rest of this entry »
November 9, 2010
MANILA, Philippines – The Philippine Insurers and Reinsurers Association (PIRA) is advocating for major amendments to the country’s 36-year-old Insurance Code, which could not only update and improve the performance of insurance industry. Read the rest of this entry »
November 8, 2010
REGULATORS want to introduce a “three-in-one” product to the fledgling microinsurance market, capitalizing on the Filipinos’ penchant for cheap, convenient products and to boost protection for the poor. Read the rest of this entry »
October 11, 2010
In last week’s column, we previewed the top 10 business risks culled across 14 industries globally by Ernst & Young and featured in its 2010 Business Risk Report. Read the rest of this entry »
October 11, 2010
Coop Life Insurance and Mutual Benefit Services (CLIMBS), a cooperative group comprising 1,501 local insurers, partnered with German reinsuirer Munich Re and with the Deutsche Gessellschaft fur Technische Zusammenarbeit GmbH (GTZ) to strengthen its reinsurance mechanism which will allow cooperatives in the Philippines offering microinsurance to survive post-disaster microinsurance claims. Read the rest of this entry »
October 4, 2010
IF their tax payments last year mean anything, the insurance industry may sustain its upward trek and post another banner year this year in terms of tax payments on insurance premium. Read the rest of this entry »
