AGRI party-list Rep. Wilbert Lee is asking the Insurance Commission to totally stop the increase in minimum catastrophe insurance premium rates, to help Filipinos cope with rising prices of basic goods. | GabrielLaluINQ
“The IC had that opportunity before—to consult the public before coming up with an abrupt policy that will aggravate the prices of basic commodities—bakit hindi nila ginawa? Yun ang kailangan muna nilang ipaliwanag ,” he added.
HR No. 632 will be discussed during the House committee on banks and financial intermediaries’ hearing on Tuesday. Lee claimed that IC Commissioner Dennis Funa stated that there is a need to adjust premium rates since insurance firms are incurring losses. But the lawmaker said that if insurance firms are losing income, the companies should come out in the open and show their records.Subscribe to our daily newsletter
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