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IC orders firms to disclose offerings
The Philippine Star
|September 01, 2025
The Insurance Commission (IC) has directed all insurance companies and related entities under its supervision to submit a complete inventory of their products and services.
The order covers all IC-regulated Entities, including life, non-life and composite insurance companies. It also includes mutual benefit associations, health maintenance organizations and pre-need companies.
"All IC-regulated entities shall fully accomplish and submit their product inventory using the appropriate Product Inventory Report template, duly certified by the company's President and/or CEO," the insurance regulator said.
This directive aligns with consumer protection measures under Republic Act 11765, also known as the Financial Products and Services Consumer Protection Act (FCPA), ensuring transparency and accountability in the insurance sector.
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