Insular Life and the International Finance Corp (IFC) have teamed up to reach out to Filipinas who do not have life and health protection or financial solutions to expand their businesses.
The Makati Regional Trial Court (RTC) has nullified an order directing insurers to provide policy information of their customers to the Credit Information Corp (CIC).
The Philippines' Insurance Commission (IC) has recently laid out new guidelines for insurers to follow when outsourcing activities. These guidelines clearly define the areas of business that must be carried out in-house and those that can be outsourced to third parties.
The Philippine Insurance Commission (IC) has issued a circular stating that it is allowing insurance companies to invest in infrastructure projects of the government.
The Insurance Commission (IC) has directed all health insurers and health maintenance organisations (HMOs) to provide a "free-look" period for health insurance policies and health maintenance contracts.
Insurance Commission of the Philippines has introduced new regulations banning insurers from outsourcing functions or business processes that are directly related to doing or transacting insurance business.
The Insurance Commission (IC) has postponed by another year to 2023 the implementation of new financial reporting standards for life and non-life insurers to give them more time to comply.
Cebuana Lhuiller, a Philippines-based firm providing pawnshop, microinsurance and other financial services, was hit by a data breach which affected the personal information of around 900,000 customers.
Local general insurers are confident about being able to meet the PHP900m ($17m) minimum net worth requirement by the end of this year, and are asking to be allowed more avenues in which to conduct business with the higher capital.
A number of insurance companies are struggling to cope with the challenge of complying with regulatory capitalisation standards. Insurers are required to have a minimum net worth of PHP900m ($17m) by the end of this year.