MANILA, Philippines - The Insurance Commission is urging insurance industry players to expedite the processing and release of insurance claims of typhoon "Yolanda" survivors.
In a statement, the IC called on industry players to process and release payments to the affected insuring public without the necessity of an actual claim filed before them.
The IC is also mulling the possibility of allowing insurance providers to release insurance proceeds to covered “Yolanda” victims without relying on traditional documentary proofs and notices of loss.
There have been discussions on the use of "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. If implemented, the processing and release of property insurance claims would be faster.
In the meantime, the IC and the industry have started the "Agarang Proseso, Benepisyo ay Sigurado" program to address the victims' urgent needs.
Agarang Proseso established on-site Claims Action Centers (CAC) at the CLIMBS General Life and Insurance Cooperative CAC in Tacloban City, CLIMBS CAC in Ormoc City and CLIMBS CAC in Cebu City.
Another CAC will also be set up in Tacloban City which will be operational on December 8.
Traditional non-life insurance providers will be deploying personnel to strategic areas in the Visayas this week to further expedite the processing and release of the insurance proceeds to the covered victims.
A CAC in Tacloban City Hall is expected to be launched on December 13.
Also, microinsurance providers have already released substantial amounts of claims for covered fisherfolks, farmers, vendors and members of the marginalized sector in Tacloban, Ormoc, Samar Southern Leyte and Biliran and in other affected areas in the Visayas:
P83,641,400.00 – for non-life claims
P811,000.00 – for death claims
P680,000.00 – for relief assistance
An industry player facilitated the release of insurance claims of at least 8,000 insurance policyholders amounting to P60 million.
Microinsurance providers have also approved P110 million for release to more than 19,000 beneficiaries and claimants in the affected area. The amount will be released this week.
Affected policyholders, planholders, beneficiaries and other concerned persons are advised to visit the Insurance Commission’s website at www.insurance.gov.ph for updates.