Insurance regulator tells firms: If clients request, extend policies expiring during COVID-19 quarantine

The Insurance Commission (IC) has ordered a minimum 30-day extension of insurance policies, pre-need plans and health care contracts that would lapse during the one-month enhanced community quarantine in Luzon to fight COVID-19.

Insurance Commissioner Dennis B. Funa, in a March 25 order, told companies selling different kinds of insurance, to extend coverage or keep alive existing policies, plans and contracts because of the “gravity of the COVID-19 situation.”

But the extension had to be requested by policy holders through letters to the companies.

Funa said extended policies or health service contracts should retain terms and conditions of the original documents.

Edited by TSB