The Insurance Commission (IC) wants the immediate processing of all claims related to Typhoons “Rolly and “Ulysses” that ravaged Luzon and parts of the Visayas.
In two IC Circular Letters, Insurance Commissioner Dennis Funa ordered that all insurance and reinsurance companies, mutual benefit associations (MBAs), pre-need firms, and health maintenance organizations (HMOs) to adopt and implement claims management policies.
“This commission recognizes that the damage and/or loss to life and property resulting from the onslaught of Typhoons ‘Rolly’ and ‘Ulysses’ may give rise to claims,” Funa said in a statement.
“There is a need to prescribe guidelines that will aid in the facilitation of the immediate processing and/or payment of such claims against said regulated entities that are related to Typhoons ‘Rolly’ and ‘Ulysses’,” he added
To recall, Super Typhoon “Rolly,” the strongest tropical cyclone thus far this year, made landfall in Catanduanes last October 31 that caused about ₱5.6 billion damage in infrastructure and ₱1.1 billion in agriculture. It also claimed the lives of at least 20 people.
Meanwhile, Typhoon “Ulysses,” a Category-4 equivalent typhoon, made its first landfall in Patnanungan, Quezon Province last November 11, claiming the lives of at least 69 people and caused approximately ₱6.38 billion of infrastructure damage.
Based on the two circular letters, Funa ordered that all insurance and reinsurance companies, MBAs, pre-need companies and HMOs adopt and implement claims management policies relative to the processing and payment of claims related to Typhoons “Rolly” and “Ulysses.”
“Such policies shall have the following objectives, to wit: (a) Relaxation and streamlining of existing company procedures and mechanisms that will facilitate immediate processing and/or payment of claims related to said typhoons,” the IC said.
“(b) Relaxation of the notice of claim period and the period for completion of claim requirements; and (3) Enhancement of services that will improve overall customer claims experience,” it added.
In the end, Funa said “it is our hope that the two Circular Letters will aid our fellow Filipinos to ease the burden of recovering from these devastating typhoons and that, in the spirit of bayanihan, our regulated entities will follow the direction provided by this Commission.”