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THE INSURANCE Commission (IC) sees the number of clients surrendering their insurance policies remaining at normal levels despite the slowing economy as the pandemic highlights the need for protection in a country where the insurance penetration rate remains low.
THE INSURANCE SECTOR can weather the impact of the coronavirus pandemic on their businesses, according to the Insurance Commission (IC), even as investments and sales face difficulties.
THE Insurance Commission (IC) ordered insurance firms and health maintenance organizations (HMOs) to extend for at least 30 days current policies and agreements expiring during the month-long enhanced community quarantine period.
THE INSURANCE industry’s premium income picked up in the nine months to September 2019, driven by an increase in all premium types of variable life insurance products.
HEALTH MAINTENANCE organizations (HMOs) will have to invest security deposits in government entities starting this year, as mandated by the Insurance Commission (IC).
THE INSURANCE Commission (IC) said “majority” of nonlife insurance companies are still working to meet the higher minimum capital requirement that took effect at end-2019, while only “a couple” of life insurers have not yet reached the prerequisite, its top official said.
THE INSURANCE Commission (IC) has found that two insurance firms it closed back in 2017 are now operating under new names, its top official said.
THE Insurance Commission has activated its disaster response mechanism to fast-track claims from earthquake-affected residents of Mindanao.
INSURANCE and reinsurance companies can now diversify their investment portfolio after the industry regulator okayed their participation in securities borrowing and lending (SBL) transactions.
INSURANCE COMMISSIONER Dennis B. Funa was elected as chairman of Asian Reinsurance Corp. (Asian Re), the Insurance Commission (IC) said.
THE INSURANCE Commission (IC) issued a cease and desist order against health maintenance organization (HMO) Caritas Health Shield, Inc. due to alleged fraudulent card swiping and misrepresentation of sales agents.
THE Insurance Commission (IC) has issued guidelines on insurers’ investment on real estate investment trusts (REIT), admitting such as assets.
THE INSURANCE Commission (IC) is now requiring new insurance adjusters to secure endorsement from two associations related to the industry.
THE INSURANCE Commission (IC) is optimistic that insurance firms will be able to prepare ahead of the 2023 implementation of new accounting rules, as multinational insurers are expected to comply ahead of time.
THE NATIONAL Reinsurance Corp. of the Philippines (Nat Re) was allowed by the Insurance Commission (IC) to continue its operations for another two years.
THE INSURANCE Commission (IC) has deferred by another year the implementation of new accounting rules for life and non-life insurers to give these firms more time to comply.
THE Insurance Commission (IC) believes some non-life insurance companies may not be able to meet the increased statutory solvency requirements by the end of the year, and encouraged such firms to seek investors or merge with other companies.
The Insurance Commission (IC) said an individual who was claiming to be Insurance Commissioner Dennis B. Funa was charged with estafa. In a statement sent...
THE INSURANCE INDUSTRY booked a double-digit increase in the first half as all sectors posted robust growth, the Insurance Commission (IC) said on Wednesday.
Philippine American Life and General Insurance Co., Inc. (Philam Life) is facing administrative case for allegedly manipulating insurance policies. In a statement, the Insurance Commission...
THE INSURANCE COMMISSION said Chinese firms are eyeing to support a non-life insurance company placed under conservatorship.
THE Insurance Commission (IC) has suspended the operations of pre-need firm Paz Life Plan, Inc. after it failed to comply with the capitalization requirement.
THE Insurance Commission (IC) has suspended the operations of pre-need firm Paz Life Plan, Inc. after it failed to comply with the capitalization requirement. In...
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