Governance, Risk and Compliance – The Philippine Insurance Industry

Date: 2015-12
Pages:43
Price:

“• The Philippine insurance industry is governed by the Insurance Commission.

• Non-admitted insurance is not permitted in the Philippine insurance industry except in case of marine cargo imports and exports.

• 100% foreign direct investment (FDI) is permitted in the Philippine insurance industry.

• Composite insurance is not permitted in the Philippines.

• Key classes of compulsory insurance include motor third-party liability insurance and professional indemnity insurance for insurance brokers.”

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