In a circular letter, the Insurance Commission (IC), the regulator of the Philippines, ordered all insurance companies and related entities to undertake the following measures whenever a state of calamity is declared in the country:
- Expedite the processing approval, and payment of claims for damage attributable to said disasters, including relaxation of company procedures and documentary requirements.
- Extend the period for submitting claim notices and other required documents for a reasonable period after the occurrence of the disaster.
- Provide the necessary support to claimants for the processing of claims.
- Ensure that damage assessments are properly assessed and recognised on official records to facilitate immediate settlement of claims.
- Coordinate with local government units and other government agencies providing relief and rehabilitation operations to ensure that claimants are provided necessary assistance.
The circular comes on the heels of President Ferdinand Marcos, Jr.’s declaration of a state of calamity in the wake of typhoon Tino.