top of page

Taxes on nonlife insurance policies

By Herminia S. Jacinto

THERE is a remarkable although guarded optimism as we enter the second semester of the year. More and more vaccines have arrived, and more are expected. General Galvez is more confident now that we may achieve herd immunity by the Christmas season. Our horizon seems to be brighter now. Roads, bridges, Skyway and LRT extensions are now open and ready to service our commuters. The much-awaited economic recovery is starting to happen, which will reopen businesses and create more jobs for our people.

The insurance industry is very sensitive to the movement in the economy. As factories, stores and other business establishments operate, there are more to be covered by insurance. In an earlier column, this writer mentioned insurance companies were ready to serve clients not long after lockdowns started. It was "business as usual" with some changes, but the insurance industry was ready to serve the needs of its clients immediately. One positive change is operations are more efficient because of digitalization. But there are still problems to be addressed.


bottom of page