QuestionsQuestions (IC CIRCULAR LETTER NO. 9-2004)
The main purpose of IC Circular Letter No. 9-2004 is to reiterate the directive for the authentication and verification of Motor Vehicle Certificates of Cover (COC) for Compulsory Third Party Liability (CTPL) insurance coverage using the ISAP COC Authentication System (ISAP-COCAS).
The agencies involved are the Land Transportation Office (LTO) and the Insurance Commission (IC), along with the Insurance Surety Association of the Philippines, Inc. (ISAP) and private entities such as D: Tech Management, Inc. (Dtech) and SQL Wizard, Inc.
They must have all issued COCs authenticated by SQL Wizard, Inc. using the ISAP COC Authentication System (ISAP-COCAS).
Vehicle owners are enjoined to have their COCs verified by Dtech (D: Tech Management, Inc.).
IC Circular Letter No. 22-2002 dated July 4, 2002, is reiterated by IC Circular Letter No. 9-2004.
The legal basis is the Joint LTO and Insurance Commission Memorandum Circular dated March 14, 2002, which mandates CTPL insurance coverage for motor vehicles.
ISAP-COCAS is a system used for the authentication of all issued Certificates of Cover for motor vehicle CTPL insurance to ensure their validity and proper issuance.
Authentication and verification ensure that the issued CTPL insurance certificates are legitimate and provide proper coverage as required by law, preventing fraud and unauthorized issuance.
SQL Wizard, Inc. is tasked with authenticating all issued Certificates of Cover through the ISAP-COCAS.
The Memorandum of Agreement was signed among LTO, Insurance Commission (IC), Insurance Surety Association of the Philippines, Inc. (ISAP), and D: Tech Management, Inc. (Dtech).
The circular was adopted on May 4, 2004.