The Land Transportation Office (LTO) is now crafting measures to increase the benefits of motorists from motor vehicle insurance following consultations with transport groups and even insurance providers. LTO chief, Assistant Secretary Vigor D. Mendoza II also vowed to run after unauthorized...
An expansion of deposit insurance coverage has taken effect, designed to bolster financial security and instill greater confidence in the Philippine banking system. Beginning Saturday, March 15, the adjustment doubled the maximum protected amount for depositors, providing an additional safety net...
Senate President Pro Tempore Jinggoy Ejercito Estrada is now pushing for a measure expanding the compulsory insurance coverage for agency-hired overseas Filipino workers (OFWs). Estrada filed Senate Bill No. 2948 which primarily seeks to amend the provisions of Republic Act (RA) No....
Doubling the subsidy for the Philippine Health Insurance Corp. (PhilHealth) in the next fiscal year would be the most appropriate course of action if the Supreme Court (SC) orders the return of the ₱60 billion fund, according to the Budget chief. This comes after public demand to return the funds...
Increasing frequency and intensity of climate-related disasters are driving up reinsurance costs and impacting insurance premiums in the Philippines Worsening climate change could drive up the cost of insuring personal assets, creating a domino effect from rising reinsurance costs, according...
Makati City 2nd district Rep. Luis Campos Jr. (Facebook) The Philippine Deposit Insurance Corp.'s (PDIC) move of doubling the maximum deposit insurance coverage (MDIC) for bank depositors from P500,000 to P1 million will have a positive impact...
State-run Government Service Insurance System (GSIS) announced a 21 percent increase in net income from operations to ₱135.7 billion in 2024, fueled by strong investment returns and robust operational performance. In a statement on Monday, Feb. 24, Wick Veloso, GSIS president and general manager,...
The assets of the Government Service Insurance System (GSIS) and the Home Development Mutual Fund, more popularly known as Pag-IBIG Fund, reached record highs while growing their respective bottom lines in 2024. Their fortified assets ensure the financial viability of these state-run social...
Government Service Insurance System (GSIS) President and General Manager Wick Veloso (rightmost) led the oath-taking of the new officers of the Philippine Alliance of Retired Educators (PARE) officers during its 10th anniversary celebration on Feb. 17 at the GSIS Gym. Among those who took...
Electric vehicle (EV) owners planning to avail of auto insurance can expect more expensive premiums, as guide rates will be published by midyear or earlier, according to a senior official of the Philippine Insurers and Reinsurers Association (PIRA). The non-life insurance industry group's motor...
Senators are looking forward to changes that would happen under United States-trained orthopedic surgeon, Dr. Edwin Mercado, who has been appointed by President Marcos as the new president and chief executive officer (CEO) of the Philippine Health Insurance Corp. (PhilHealth). Senator Joseph...
State-run Government Service Insurance System (GSIS) launched a loan buyout program today, allowing government workers to consolidate their debts at interest rates as low as six percent. In a statement on Monday, Feb. 3, Wick Veloso, GSIS president and general manager, said the new program aims to...
