The Insurance Commission (IC) lauded the state-owned Philippine Crop Insurance Corp. (PCIC) and CARD Pioneer Microinsurance, Inc. (CPMI) for an agreement on agriculture insurance. In a statement, Insurance Commissioner Dennis B. Funa said the co-insurance agreement between PCIC and CPMI would help...
As the number of COVID-19 cases in the country increased, insurance claim payouts due to the pandemic hit P8.2 billion in the first nine months of last year, a survey conducted by the Insurance Commission revealed. In a statement, Insurance Commissioner Dennis B. Funa said on Monday, Jan. 31 that...
The Insurance Commission (IC) has placed pre-need firm Himlayang Pilipino Plans, Inc. (HPPI) under conservatorship due to poor financial management. In a statement, Insurance Commissioner Dennis B. Funa said on Monday, Jan. 24, that HPPI was placed under conservatorship following its “continuing...
The Insurance Commission (IC) has ordered the immediate processing of claims related to Typhoon Odette. Under Circular Letter No. 2021-71, the IC directed insurers to adopt and implement claims management policies that will facilitate immediate processing of insurance, reinsurance, mutual benefit...
The Insurance Commission reported that the premium income of insurers in the country jumped by double digits in the second-quarter, an indication of the country’s economic recovery from a prolonged pandemic. In a statement, Insurance Commissioner Dennis B. Funa said on Tuesday, Oct. 26, that the...
Insurance payments related to the coronavirus pandemic hit more than P8 billion. IC Comm. Dennis B. Funa Since the pandemic began, Insurance Commissioner Dennis B. Funa reported that payouts made by life and non-life insurers, health maintenance organizations (HMOs), and mutual benefit associations...
The Insurance Commission (IC) wants to remove variable insurance products from the list of mutual fund schemes to avoid increasing costs for consumers and defeating the goal of financial inclusion for all Filipinos. Sec. Dominguez and Comm. Funa In a letter to Finance Secretary and Capital Market...
The Council of Members of Asian Reinsurance Corp. (Asian Re) has reelected Insurance Commissioner Dennis B. Funa as chairperson for a fresh new two-year term. Screen Shot 2021-06-14 at 3.35.00 PM Funa, who previously served as vice-chairperson, was first elected as chairperson of Asian Re’s...
