IKOT.PH
Consumers and micro, small and medium enterprises (MSMEs) will not have to bear the additional burden of increased catastrophe insurance costs after AGRI Party-list Rep. Wilbert T. Lee blasted the Insurance Commission (IC) for issuing IC Circular Letter No. 2022-34 dated July 14, 2022, which would have imposed as much as 400% increase in minimum […]
AGRI Party-list Rep. Wilbert T. Lee believes that the Insurance Commission’s (IC) move to increase the minimum catastrophe insurance rates is an anti-competitive policy that will just incentivize cartels while passing on additional burdens to consumers as it will result in soaring prices of basic commodities. The lawmaker from Sorsogon stated this during the Feb. […]
AGRI Party-list Rep. Wilbert T. Lee urged the Insurance Commission (IC) to scrap the implementation of its IC Circular Letter No. 2022-34 which seeks to increase the minimum catastrophe (earthquake, typhoon and flood) insurance premium rates, especially because the country’s inflation hit a 14-year high of 8.7% this January. The hike was supposed to be […]