Member news: CLIMBS works with Philippines Insurance Commission to help Yolanda victims

The Insurance Commission (IC) in the Philippines, working together with industry stakeholders, has recently approved and implemented the program “Agarang Proseso, Benepisyo ay Sigurado” to address the Yolanda victims’ urgent need for any immediate relief that is available.

“In furtherance of its mandate and to provide an even much faster relief to Typhoon Yolanda victims, the Insurance Commission is pushing for quicker insurance claims processing,” said a representative of the Commission. One of the microinsurance providers working closely with the Commission is ICMIF member CLIMBS General Life and Insurance Cooperative.

“With the joint efforts of all industry stakeholders, Agarang Proseso has established on-site Claims Action Centres (CAC), namely: CLIMBS General Life and Insurance Cooperative CAC in Tacloban City, CLIMBS CAC in Ormoc City and CLIMBS CAC in Cebu City,” the statement added.

According to the Commission additional CLIMBS centres were also to be set up in Tacloban City and at Tacloban City Hall as early as possible in December.

The IC will also observe how Microinsurance providers process payments after catastrophic events. The IC has called upon the industry players to process and release payments to the affected insuring public without the necessity of an actual claim being filed.

“The Insurance Commission 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,” the IC said. This is very similar to the response of ICMIF member organizations in Japan to the Great East Japan Earthquake and Tsunami in 2011 when helping their members/policyholders.

The Commission has made extensive discussions on “satellite imaging” and “crisis mapping” as basis for the payment of property insurance proceeds, instead of the traditional and actual documentary proof and professional adjustment.

“Ongoing coordination with the industry stakeholders is being made to ensure proper and prompt actions of all concerned,” the IC said.

As of 9 December, the National Disaster Risk Reduction and Management Council reported that the death toll is 5 934, with 1 779 still missing. The cost of the damage is in excess of $720m.