IC CIRCULAR LETTER NO. 16-2004

: It enjoined all non-life companies to report in the Annual Statement, under Recapitulation 1—Premiums Written and Premiums Earned, the number of Certificates of Covers (COCs) issued under CMVL-LTO and CMVL-NON-LTO.
: Under Recapitulation 1—Premiums Written and Premiums Earned.
: The number of COCs issued under CMVL-LTO and CMVL-NON-LTO.
: Starting with the year 2004.
: It applies to all non-life companies.
: A separate column will be added in Recapitulation 1 as indicated in the attached form.
: To capture and report the number of COCs issued under CMVL-LTO and CMVL-NON-LTO.
: Strict compliance.
: It was adopted on August 2, 2004 by Insurance Commissioner Benjamin S. Santos.
: They must be reported in Recapitulation 1, titled “Premiums Written and Premiums Earned.”
: Failing to report in the Annual Statement (Recapitulation 1) the number of COCs issued under CMVL-LTO and CMVL-NON-LTO using the added separate column.
: It is a mandatory regulatory instruction (“hereby enjoined” and “for strict compliance”) directing reporting requirements in annual submissions.
: In Recapitulation 1—Premiums Written and Premiums Earned—using the separate column added for COCs under CMVL-LTO and CMVL-NON-LTO.