Regulator orders faster processing of claims for earthquake and typhoon victims

The Filipino Department of Finance (DOF) has ordered all agencies, government financial institutions, and government-owned and controlled corporations under its supervision to extend much-needed aid to the victims of the recent 6.9 magnitude earthquake in Cebu and severe tropical storm Opong.

DOF secretary Ralph Recto emphasized the need to mobilize ground support and faster rollout of services to the public in the aftermath of the Nat CAT natural calamities.

On its part, the Insurance Commission (IC) has issued IC Circular Letter No. 2025-19 ordering all insurance companies and related entities to:

• Provide assistance so that policyholders can receive immediate payments for claims.

• Extend deadlines for filing notices of claims and submitting of supporting documents.

• Improve customer service.

• Fast track the processing of insurance claims for damaged properties, allied perils, sustained injuries and tragic loss of lives.

Source: www.asiainsurancereview.com