Personal Development, Business, Finance, and Investing for Everyone
An investment in knowledge always pays the best interest.
The Insurance Commission (IC) and the Integrated Bar of the Philippines (IBP) signed a Memorandum of Agreement (MOA) to provide free legal assistance to the insuring public when filing a claim or complaint arising from insurance, pre-need and health maintenance organization (HMO) products. The said agreement will provide free legal assistance, including consultation, and representation during mediation, conciliation, and adjudication proceedings, particularly to marginalized and less privileged citizens of the country.
As a standard procedure, IC informs the insuring public who file requests for assistance and/or complaints against insurance, pre-need and HMO companies of the available legal remedies to enforce their claims. Under the agreement, after IC has informed a complainant of the available legal remedies, IC may endorse the complainant to the IBP for free legal services. IBP shall then provide legal services, subject to the application of a means and merit test and to the availability of volunteer legal aid lawyers. The agreement, however, does not preclude filing of requests for assistance and formal adjudication cases even without a lawyer, as IC standard procedures already provide for the filing of requests and complaints even without the assistance of counsel. In 2023, IC resolved all 5,417 informal complaints received from the insuring public, pursuant to the mandates of Republic Act No. 11765 or the Financial Products and Services Consumer Protection Act. The said complaints were resolved either through amicable settlement between the complainants and the corresponding IC-regulated entities, or through endorsement of the complaints for formal adjudication.
0 Comments
Leave a Reply. |
PLACE YOUR ADS HERE YOUR PAYDAY REMINDER FEATURED PARTNER FEATURED PROMOTIONS FEATURED MENTIONS PLACE YOUR ADS HERE PLACE YOUR ADS HERE For more updates about Personal Development, Financial and Investment Education. Join and Subscribe to my Newsletter. It's FREE! ABOUT THE BLOGGERHi, I'm Ralph Gregore Masalihit! An RFP Graduate (Registered Financial Planner Institute - Philippines). A Personal Finance Advocate. An I.T. by Profession. An Investor. Business Minded. An Introvert. A Photography Enthusiast. A Travel and Personal Finance Blogger (Lakbay Diwa and Kuripot Pinoy). Currently, I'm working my way toward time and financial freedom. PLACE YOUR ADS HERE Follow me on |