MANILA, Philippines—The Insurance Commission (IC) on Thursday (Nov. 19) ordered all insurers in the country to fast-track payments for insurance claims resulting from damage wrought by Typhoon Ulysses last week.
Insurance Commissioner Dennis B. Funa already issued circulars mandating all insurance and reinsurance companies, mutual benefit associations (MBAs), pre-need firms and health maintenance organizations (HMOs) to pay claims for damage and loss of life and property as a result of Ulysses and another typhoon, Rolly.
Funa noted that Ulysses inflicted P6.4 billion in damage to infrastructure on top of a death toll of 69.
Rolly, the world’s strongest tropical cyclone in 2020, resu…
Keep on reading: Insurers told to speed up payments of Ulysses damage, death claims