IC kickstarts program for ‘Yolanda’ victims

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The Insurance Commission (IC), together with industry stake-holders, have implemented a program that would address the urgent needs of the victims of Super Typhoon Yolanda, particularly in insurance claims.

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In a statement, the commission said that the program dubbed as “Agarang Proseso, Benepisyo ay Sigurado” was immediately approved and implemented right after the super typhoon left the country.

The IC said that Agarang Proseso established on-site Claims Action Centers (CAC), namely: Climbs General Life and Insurance Cooperative CAC in Tacloban City, Climbs CAC in Ormoc City and Climbs CAC in Cebu City, while Another CAC will be set up by Climbs in Tacloban City, which will be operational on December 8.

The agency also noted that traditional nonlife insurance providers have committed to deploy their personnel to strategic areas in the Visayas in the first week of December 2013 to further expedite the processing and release of the insurance proceeds to the covered victims. A Claims Action Center in Tacloban City Hall is expected to be launched on December 13.

Furthermore, the commission reported that microinsurance providers have released substantial amounts of claims for covered fisher folks, farmers, vendors and members of the marginalized sector in the cities of Tacloban and Ormoc, the provinces of Samar, Southern Leyte and Biliran, and in other affected areas in the Visayas.

Nonlife claims reached P83.64 million, death claims reached P811,000, and relief assistance reached P680,000.

The IC added that through its efforts, an active industry player facilitated the release of insurance claims of at least 8,000 insurance policyholders amounting to P60 million.

It also said that microinsurance providers have additionally approved P110 million for release to more than 19,000 beneficiaries and claimants in the affected areas, which is expected to be released in the first week of this month.

“In furtherance of its mandate and to provide an even much faster relief to Yolanda victims, the Insurance Commission pushes further for a quicker insurance claims processing. The Insurance Commission has called upon the industry players to process and release payments to the affected insuring public without the necessity of an actual claim filed before them,” the agency stated.

Meanwhile, the commission said that it is seriously entertaining the possibility of requiring insurance providers to release insurance proceeds to covered Yolanda victims, without relying mainly on traditional documentary proofs and notices of loss.

It noted that extensive discussions on “satellite imaging” and “crisis mapping” as basis for the payment of property insurance proceeds, in lieu of the traditional and actual documentary proof and professional adjustment, have already been made.

“If implemented, the processing and release of property insurance claims would be even quicker and more expeditious,” the IC said.

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