Courtesy Call with the New Deputy Insurance Commissioner George S. Ongkeko, Jr. - Technical Matters

PIRA Tech Sub-Comm on Motor Car Insurance had Courtesy Call with Deputy Insurance Commissioner George S. Ongkeko, Jr.

The  PIRA Technical Sub-Committee on Motor Car Insurance had a Courtesy Call with the new Deputy Insurance Commissioner for Technical Matters, Mr. George S. Ongkeko, Jr.,  and Ms. Chona Cortez of  IC Rating Division on 7 May 2019 at the IC Executive Lounge. The following present are:  Messrs. Arturo B. Reyes, Chairman Motor Car Technical Sub-Committee, and Members:  Messrs. Reynaldo B. Fong, Danilo B. Bariring, Cleto D. Obello, Jr., Atty. Leo-Jon P. Ramos, Christopher Y. Marquez, Ms. Vilma D. Dollentas and Jaycee Dela Cruz, together with Michael F. Rellosa (Executive Director), Rogelio J. Concepcion (General Manager) and Ms. Agnes Silaya (Accounting Manager).

PIRA Tech Sub-Comm on Motor Car Insurance had Courtesy Call with Deputy Insurance Commissioner George S. Ongkeko, Jr.

The Motor Car Technical Sub-Committee introduced itself, its mandate and its members and had a short briefing with Deputy Commissioner George Ongkeko, Jr. on the following pending items with the Insurance Commission:

PIRA Tech Sub-Comm on Motor Car Insurance had Courtesy Call with Deputy Insurance Commissioner George S. Ongkeko, Jr.

PIRA Tech Sub-Comm on Motor Car Insurance had Courtesy Call with Deputy Insurance Commissioner George S. Ongkeko, Jr.

A. As requested by the Insurance Commissioner, the IC-PIRA Technical Working Group (TWG) on Risk Evaluation, Pricing and Rating (composed of IC Representatives and PIRA Technical Sub-Committee members on Motor Car) have reviewed the Motor Car Rates and discussed the following recommendations in a series of meetings in 2018 based on the Industry Motor Car Insurance Statistics covering 2011-2016 from the IC Annual Report. 

 

1)    Recommended Compulsory Motor Vehicle Liability (CMVL) Rates and   

        Schedule of Indemnities (PIRA Letter to IC dated 27 Dec. 2018)

 

 

 2)   Proposed Premium Rates Schedule for Motor Car (PIRA letter to IC dated 6   

        May 2019) 

B)  New Proposal for COC Authentication Facility (LTO/Dermalog/IC/PIRA/OICP)

 

       

 

C)  Proposed Enhancement of Statistical Reporting Format on Motor Car

       Insurance Lines to form part of the IC Annual Report to be required from

       members. 

 

 

The Motor Car Technical Sub-Committee members expressed their appreciation and support to the new Deputy Insurance Commissioner for Technical Matters, Mr. George Ongkeko, Jr. 

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