The health maintenance organization (HMO) industry recorded a net loss in the first half of the year, reversing the previous year's profit, data from the Insurance Commission (IC) showed. According to the recently released IC report, the HMO sector registered losses amounting to P1.186 billion from...
Car owners with comprehensive insurance for their motor vehicles are not required to buy compulsory third-party liability (CTPL) coverage when registering with the Land Transportation Office (LTO). Insurance Commissioner Reynaldo A. Regalado said comprehensive insurance coverage should meet the...
State-owned Government Service Insurance System (GSIS) has introduced a loan program for teachers with longer payment terms and lower interest rates. In a statement on Tuesday, Sept. 26, GSIS President and General Manager Wick Veloso said that this initiative aligns with the Department of...
Sen. Mark Villar called on the Senate to conduct an inquiry in aid of legislation following a recent cyberattack against the Philippine Health Insurance Corporation (PhilHealth) and all the other attacks against government websites. Villar filed Resolution No. 811 before the Senate directing...
The Philippine Health Insurance Corporation (PhilHealth) Management on Saturday, Sept. 23, released an update on the the temporary downtime in its system and assured the public that this will be restored at the "soonest possible" time. Photo credit to PhilHealth "We are working to restore...
Sen. Raffy Tulfo on Thursday, September 21, criticized the Social Security System (SSS), the Philippine Health Insurance Corporation (PhilHealth), and the Home Development Mutual Fund or Pag-IBIG for not doing enough to ensure that employers have enrolled their "kasambahays" and are paying their...
The combined premiums of the insurance industry registered a decline in the first six months of the year, data from the Insurance Commission (IC) revealed. Based on reports provided by 128 out of 136 licensed life and nonlife insurers, as well as mutual benefit associations (MBAs), the total...
AGRI Party-list Rep. Wilbert T. Lee (Facebook) AGRI Party-list Rep. Wilbert T. Lee was able to secure a commitment from the Insurance Commission (IC) for the revocation of a circular that would have imposed a whopping 400 percent increase in minimum...
Metro Pacific Investments Corporation (MPIC) is now all set for delisting following the high acceptance rate of the management-led tender offer, which mopped up P28.42 billion worth of the firm’s free float shares. In a disclosure to the Philippine Stock Exchange (PSE), GT Capital Holdings Inc....
The Government Service Insurance System (GSIS) is leasing out two real estate properties in Ortigas Center, Pasig City for over P83 million per year. According to a notice on the GSIS website, these properties are located at the intersection of Doña Julia Vargas and Meralco Avenue, Brgy. Ugong,...
The Government Service Insurance System (GSIS) has sold its property in Sta. Mesa to the Social Housing Finance Corp. (SHFC) for the construction of an affordable high-rise condominium project. In a statement, GSIS President and General Manager Wick Veloso said that SHFC purchased the pension...
Metro Pacific Investments Corporation (MPIC) reported that its planned voluntary delisting will now push through after the bidders have obtained enough shares from a tender offer to bring down the firm’s public float to less than five percent. In a disclosure to the Philippine Stock Exchange...
