Issuance of Insurance Commission Rulings

The Circular Letter is titled “ISSUANCE OF INSURANCE COMMISSION RULINGS (ICRa)”.
The Circular Letter is adopted on 05 June 2018.
The Circular Letter is dated 08 June 2018.
The Circular Letter takes effect immediately under Section 4.

The Insurance Commissioner issues Insurance Commission Rulings to secure enforcement of the provisions of the Amended Insurance Code of the Philippines, the Pre-Need Code of the Philippines, and Executive Order No. 192, s. 2015.
The Insurance Commissioner issues Insurance Commission Rulings to ensure the efficient regulation of the insurance, pre-need, and health maintenance organization (HMO) industries.
Insurance Commission Rulings provide guidance on the consequences of applying the cited Codes and Executive Order to specific situations.

Insurance Commission Rulings (ICRa) are defined as rulings and interpretations by the Commission regarding the cited Codes and Executive Order.
ICRa apply the cited Codes and Executive Order to a specific set of facts.
ICRa may be issued with or without established precedents.
ICRa are issued from time to time to guide stakeholders on the results of applying the cited laws and related instruments in particular situations.

Insurance Commission Rulings cover interpretations of the Amended Insurance Code of the Philippines, the Pre-Need Code of the Philippines, and Executive Order No. 192, s. 2015.
Insurance Commission Rulings also incorporate pertinent circular letters, rules, and regulations as applied to particular factual situations.
The framework is directed toward regulation of the insurance, pre-need, and health maintenance organization (HMO) industries.

Insurance Commission Rulings are distinguished from legal opinions issued by the Commission pursuant to Circular Letter No. 2017-13 (d. 7 March 2017).
Insurance Commission Rulings are distinguished from decisions or judgments rendered by the Regulation, Enforcement and Prosecution Division (REPD) in connection with administrative cases.
Insurance Commission Rulings are distinguished from decisions or judgments rendered by the Claims Adjudication Division (CAD) regarding the adjudication of claims.

The Commission shall issue Insurance Commission Rulings from time to time under Section 1.
Each ICR shall contain the Commission’s ruling and interpretation of relevant provisions of the cited Codes and Executive Order.
Each ICR is issued in light of the application of those provisions to a specific set of facts.
Each ICR may be issued with or without established precedents and is intended to be issued for stakeholder guidance on consequences in specific situations.

The Commission’s Records Division shall devise a system for successively numbering all ICRs issued by the Insurance Commissioner.
The Commission’s Records Division shall devise a system for recording, organizing, and safekeeping all ICRs for future reference.

The Information Systems Division and Information Technology Division shall cause the publication of all ICRs issued on the Insurance Commission’s website.