MANILA, Philippines — Amid the COVID-19 lockdown, the Insurance Commission (IC) has temporarily waived the required notarization of agents’ license application documents.
Insurance Commissioner Dennis B. Funa said in Circular Letter (CL) No. 2020-42 dated April 16 that given limited mobility allowed during the enhanced community quarantine, the IC acknowledged the difficulty among agents applying for new or renewal of licenses to have their accomplished application forms duly notarized by a notary public.
The IC also allowed the application forms required to be signed both by the applicant and a duly authorized company representative to use electronic signatures since it was difficult for insurers to physically sign them.
But the IC ordered insurance firms to resubmit application forms with both the notarization and handwritten/wet ink signatures within 10 working days from the lifting of the enhanced community quarantine.
The ongoing lockdown imposed in Luzon and other parts of the country had been extended until April 30.
Meanwhile, Funa issued CL 2020-43 dated April 17 to extend the filing and submission of certain regulatory documentary requirements among insurers, reinsurers, mutual benefit associations (MBAs), reinsurance brokers, health maintenance organization (HMOs), and pre-need companies until June 30, in light of the longer quarantine period.