NPC ANNOUNCEMENT (4 June 2021): In keeping with our commitment to promote global standards on data privacy and protection and to provide quality service to the public, the launch of the eRehistro is suspended to make way for a complete solution that integrates all the services related to data privacy compliance. With this, we are extending the validity of all existing Certificates of Registration issued in 2019 and 2020 to 08 March 2022. Here are the links to the required documents mentioned [in the Announcement below]: Government and Private Institutions: https://www.privacy.gov.ph/.../NPC%20form%2001-2019.pdf Individual – Professional: https://www.privacy.gov.ph/.../nwsltr/individualform_v6.pdf Amendment cover letter: https://www.privacy.gov.ph/.../AmendmentDPOForm... For questions and other concerns regarding registration and compliance, please email compliancesupport@privacy.gov.ph #PrivacyPH

IC Deputy Commissioner Ferdinand Gorge Florendo said insurers are given enough time to shift to the Philippine Financial Reporting Standard (PFRS) 17 from the current PFRS 4.

Data from the Association of Southeast Asian Nations (ASEAN) Automotive Federation showed the Philippines assembled 25,805 units as of end-April, up from the 22,565 units in the same period a year ago.

THE House of Representatives Committee on Labor and Employment on Wednesday approved a measure that would pave the way for the creation of an unemployment insurance program in the Philippines "subject to style and amendments."

In line with its commitment to being the Tulay ng PaMLyang Pilipino, M Lhuillier Financial Services Inc. has continued to innovate and introduce new products and services that would bring value to Filipinos around the world. s part of this goal, M Lhuillier has diversified into offering reliable insurance plans made more affordable for every Filipino. Its insurance arm, M Lhuillier General Insurance Agency Inc., has partnered with reputable insurance companies such as the Philippine American Life Insurance Company, Paramount Life & General Insurance Corporation, MAA General Assurance Philippines Inc., and PhilLife Financials to bring both life and non-life insurance products to the market. M Lhuillier currently offers five personal accident insurance plans: Pawners Protect, Kwarta Padala Protect, Family Protect, Family Protect Plus, and Pinoy Protect Plus. All these cover accidental death, disablement or dismemberment, and motorcycling accidents with benefits ranging from P20,000 to P30,000, depending on the type of plan.

MANILA – The Insurance Commission (IC) has started the countdown for insurance companies in the country to transition to a new set of accounting policies that will make their financial reports more transparent especially for the investing public and universally comparable. In a webinar on the new accounting system conducted last week, IC Deputy Commissioner Ferdinand George Florendo said insurance companies may start the shift to Philippine Financial Reporting Standard (PFRS) 17 --from the current PFRS 4-- starting January 2023 in time for the industry-wide application in 2025. Florendo said the firms are given enough time to complete the transition as these need to change their data administration, financial presentations, and actuarial calculations.

To encourage banks to dispose bad assets, the BSP streamlined the procedures for application of the certificate of eligibility of NPAs. The BSP, the Securities and Exchange Commission and the Insurance Commission would issue the COE for the purpose of obtaining tax exemptions and fee privileges. Aside from banks, entities covered by the law include financing companies, investment houses, lending companies, accredited microfinance non-government organizations, insurance companies, government financial institutions, government owned or controlled corporations, non-stock savings and loan associations, and non-bank credit card issuers.

ADVISORY: DOE sets schedule of possible power interruptions in Luzon

Insurers in the Philippines will shift to a more transparent accounting system by 2025 - a change that will require operations, financial reports and actuarial calculations to be reassessed, according to the industry regulator, the Insurance Commission (IC).

MALAYAN INSURANCE Co., Inc., Liberty Insurance Corp. and Prudential Guarantee and Assurance, Inc. have rolled out plans for individuals with trips affected by the coronavirus disease 2019 (COVID-19) pandemic, the Insurance Commission (IC) said in a statement on Thursday. The IC said the policies offered by these companies include assistance on flight rebooking, airline ticket reimbursements, and hospital cash benefits, among others. “Those interested to avail of COVID-19 insurance coverage may well consider these products offered by the three companies mentioned,” IC Commissioner Dennis B. Funa was quoted as saying. “Our fellow Filipinos may examine these insurance products and avail such products that are most responsive to their needs and the particular COVID-19-related risks they seek protection from,” Mr. Funa added.