Insurance claims related to the pandemic reached P16.71 billion in the past two years, with life coverages accounting for more than half of the payouts, the Department of Finance (DOF) said. In a report to Finance Secretary Carlos G. Dominguez III, the Insurance Commission said 23 percent or P3.89...
Arriving foreign tourists are required to present a travel and health insurance policy for Covid-19 with a minimum coverage of $35,000. PIXABAY / MANILA BULLETIN This was reiterated by Presidential Communications secretary and acting presidential spokesperson Martin Andanar in a virtual Palace...
AIA Philippines, formerly AIA Philam Life, is seeking thousands of its policyholders and beneficiaries who have yet to claim their benefits ranging from policy maturities, reinstatements, claims, redemptions, and even refunds. In a statement, AIA Philippines said on Tuesday, March 8, that there are...
Despite uncertainties amid the pandemic, the Government Service Insurance System (GSIS) said its investment fund expanded last year on the back of “well-positioned” foreign currency denominated portfolio. Rolando Ledesma Macasaet, GSIS president and general manager, said on Friday, March 4,...
The Insurance Commission (IC) has placed another pre-need firm under conservatorship due to trust fund deficiencies, the Department of Finance (DOF) said on Thursday, March 3. In a statement released by the DOF, the IC said the agency ordered Eternal Plans Inc. (EPI) to be placed under...
Sickness and disasters will continue to pose risks post-pandemic “Filipinos have always been highly underinsured,” shares AXA Philippines President and CEO, Rahul Hora, during a recent interview. But if there has been a silver lining to the COVID-19 pandemic, it is that Filipinos are now...
The Government Service Insurance System (GSIS) on Monday, Feb. 14, vowed to expedite the processing of insurance claims of government agencies whose properties have been “extensively damaged” by Super Typhoon Odette. “I have instructed our Insurance Group to help clear the debris in insured...
With the gradual easing of restrictions, the chaotic Manila traffic is back. Instead of the peaceful and empty intersections, in its place is heavy traffic, harried drivers and commuters, and shorter tempers makes for the perfect setting for road accidents. Whether you’re going on a long or short...
The extreme challenges posed by the pandemic and its economic fallout over the past two years have fueled Filipinos’ interest in insurance as shown by the 27 percent jump in spending allocation for insurance premiums in 2021, a study by the Hong Kong-based insurer AIA Group revealed. Based on the...
The ongoing pandemic has not only disrupted routines and derailed plans, but also heightened our fears about life’s uncertainties. It made us rethink our priorities, putting health and financial preparedness first before everything else. Almost always, unexpected health-related expenses...
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...
The Senate unanimously approved on third and final reading the bill seeking to amend certain sections of the Philippine Deposit Insurance Corp. (PDIC) Charter, and make it an attached agency of the Bangko Sentral ng Pilipinas (BSP). Voting 23-0-0, the Senate passed during its hybrid plenary session...
